[ad_1]
The collapse of an Australian financial company has put the investment of thousands of New Zealanders in jeopardy.
Sydney-based directors were appointed to Halifax Investment Services last week and investor accounts were frozen.
Photo: nito500 / 123RF
Sydney-based directors were appointed to Halifax Investment Services last week and investor accounts were frozen.
Morgan Kelly of Ferrier Hodgson, chief administrator of Halifax Investment Services, told RNZ that there were about 4,000 investor accounts in this country.
He said he did not know how much money New Zealand investors had been earning, but he had planned to meet local creditors in Auckland on December 7.
"I am reluctant to give you misleading information," Kelly said, adding that a full statement would be released later this week.
Australian creditors learned last week that it was unlikely that the company would be able to pay them.
Halifax is an Australian company authorized to operate in New Zealand through its offices in Auckland and Wellington.
He also owned a local subsidiary called Halifax New Zealand, which posted a net profit after tax of $ 16,726 in March.
Sydney-based director of Halifax Investment Services Jeffrey Worboys stepped down as the director of the New Zealand subsidiary on Sunday night, the bureau said.
Andrew Gibbs, managing director and principal shareholder of Halifax New Zealand, ignored RNZ's efforts to contact him.
The financial statements indicate that he had touched nearly $ 400,000 during the 2018 fiscal year, while a company associated with him had received a commission of $ 82,788.
The Autorité des marchés financiers, which issued a license to the New Zealand company, said it was working with the company, the directors and the Australian Securities and Exchange Commission. investments.
The administration is the first step in the company's turnaround, which is to install a circular fence around a business to protect it from disruption and preserve the rights of all creditors.
Source link
