Postie Plus liquidator cuts $550k deal with former logistics supplier

Paul McBeth
Wed, 06 Jul 2016

By Paul McBeth July 6 (BusinessDesk) - The liquidator of Postie Plus' former owner reached a $550,000 settlement with the failed retailer's former logistics supplier, leaving creditor Bank of New Zealand facing a shortfall of more than $5 million.  In the final liquidators' report for Retva Ltd, the remaining shell of Postie Plus Group, PwC's David Bridgman said a "full and final" settlement was concluded in April 2016, ending proceedings brought by the retailer's secured creditor. BNZ had funded the initial legal proceedings against the...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
NZ stock market finishes first half of 2022 down 18%
Dan Brunskill | Fri, 01 Jul 2022

One analyst said market participants will be glad to see the back of the turbulent second quarter.

Mitsi eclipses Toyota as logistics bites
Brent Melville | Fri, 01 Jul 2022

Toyota's Japanese competitor Mitsubishi Motors is narrowly ahead at the halfway stage of the year in New Zealand market share, largely driven by its PHEV sales.

Infrastructure Exclusive
New Christchurch stadium report raises 'critical issues', budget concerns
Oliver Lewis | Fri, 01 Jul 2022

The former project director's report, seen for the first time, raises numerous issues, including budget concerns.

Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges

Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.