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Lombard Finance receiver still in settlement talks with ex-directors, eyes claim against 3rd party
July 2 (BusinessDesk) - The receiver for Lombard Finance & Investments is still in talks with the directors of the failed lender and has started negotiations with a third party it sees facing a claim as it looks to claw back what it can for investors. PwC’s John Fisk is talkin...
Lombard directors sentenced to home detention
July 2 (BusinessDesk) - The Court of Appeal has sentenced all four former directors of Lombard Finance & Investments to home detention, having accepted the initial sentences were “manifestly inadequate.” In a judgment today Justices Anthony Randerson, John Wild, and Christine...
Fonterra to spend $27M beefing up capacity at Te Rapa storage facility
July 2 (BusinessDesk) - Fonterra Cooperative Group, the world’s biggest dairy exporter, plans to spend $27 million to double storage capacity at its Te Rapa site, which is currently under-capacity. The Auckland-based cooperative expects to save an annual $5 million in operatin...
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