Suspect company faces liquidation after director dies
By Victoria Young July 16 (BusinessDesk) - The registrar for companies has moved to dissolve wealth management company Denton Morrell after its director Matthew Butterfield died. The private wealth company, which specialised in creating trusts and partnerships for clients,...
Foreign investors face maximum penalty for breach after $13M purchase
By Victoria Young July 15 (BusinessDesk) - Overseas investors who paid $13 million for five hectares of land in Auckland have been told to pay $300,000 to the Overseas Investment Office (OIO) and sell the 117-lot development they started within two years. In a decision rel...
CORRECT: NZ Super Fund to invest in $300M local hotel venture
(fixes headline and first sentence reference to hotel portfolio value. Adds new second sentence) By Victoria Young July 15 (BusinessDesk) - New Zealand’s $42 billion Superannuation Fund will invest into a $300 million portfolio of hotels owned by local firms, as it eyes fur...
Acting PM Peters rebuffs concerns over digital services tax
By Victoria Young July 12 (BusinessDesk) - Acting Prime Minister Winston Peters has dismissed concerns the US could threaten New Zealand with tariffs over proposed taxes for internet companies. New Zealand is still developing a digital services tax which could generate $30...
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