Supreme Court rejects Trends Publishing bid over creditor compromise

Mon, 16 Jul 2018

By Paul McBeth July 16 (BusinessDesk) - The Supreme Court has rejected an appeal by Trends Publishing International over a deal it put to creditors, which it said was "fundamentally misconceived" as a related party had an equal say on whether to accept the compromise. Auckland-based Trends put forward a proposal to 62 creditors, who it owed $4.3 million, when government research and development grant agency Callaghan Innovation sought to claw back $383,000 of funding. The terms of deal were disputed by Callaghan and several other credito...

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