NZF Group auditor exit scuttles restructuring, board proposes liquidation

Thu, 03 Apr 2014

April 3 (BusinessDesk) - NZF Group faces liquidation after the resignation of its auditor scuttled a proposal for a substantial restructure, and left the board with no option but to liquidate the company. The Auckland-based financial services firm planned to seek an early redemption of $18 million owed to capital noteholders in cash and shares as part of a restructure that would have seen it buy a significant enterprise generating annual sales of more than $100 million, it said in a statement. RSM Prince resigned as NZF’s auditor, leaving...

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