NZPA
Hanover Finance stops repayment of deposits
Wednesday July 23, 04:46 PM
Hanover Finance Ltd is suspending repayment of existing deposits in a bid to restructure its business.
One of the nation's largest surviving finance companies, it announced today it is working with trustees to "preserve value".
"The industry model has collapsed," shareholders Mark Hotchin and Eric Watson said today.
Source: NZPA
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