MicroGEM parent owes $44m according to UK liquidator

MicroGEM parent owes $44m according to UK liquidator
MicroGEM's operations were largely run out of this Dunedin office building. (Image: Google)
Riley Kennedy
The liquidator of MicroGEM’s ultimate parent in the United Kingdom – which was planning to list on the stock market this year – believes the entity owes roughly $44 million.The country’s employment court has also ruled the biotech company made “unlawful” deductions from multiple employees’ wages.During the pandemic, MicroGEM was given US$41m (NZ$70.4m) to help fund the development of a box-style mobile machine that was pitched to return a covid test result within 25 minutes. Before that, it had bee...

More Finance

JPMorgan is revamping Its bank for the superrich
Finance

JPMorgan is revamping Its bank for the superrich

There is a minimum required balance of US$10 million. 

Port of Auckland to pay $45m special dividend to council
Finance

Port of Auckland to pay $45m special dividend to council

The divestment proceeds will be used to top up the Auckland Future Fund.

Oliver Lewis 27 Jun 2025
$600m in tourist spend at risk from regulation: Mastercard
Finance

$600m in tourist spend at risk from regulation: Mastercard

When Europe cut interchange fees, foreign card decline rates soared.

Pattrick Smellie 27 Jun 2025