A Timaru High Court hearing set for May on whether Aorangi Securities or the Hubbards own $60 million of disputed assets is key to whether investors in the failed group get most of their money back or only a third of the funds, the statutory managers say. The Aorangi investors have so far received 15 cents in the dollar, or …

The chief executive of state-owned coal miner Solid Energy, Don Elder, is to follow most of the company’s previous board of directors and hundreds of staff out the door, announcing his resignation after 12 years in the post. Elder’s departure had been likely ever since last August, when he announced a shock $40 million loss in the year to June …

Tru-Test Group, the agri-tech group that ranked 16th on the TIN100 survey of the country’s top research and technology firms, has bought milk storage and refrigeration firm Dairy Technology Services from local manufacturer NDA Group for $73 million. The Auckland-based company bought the company after raising $5.4 million in a two-for-nine renounceable rights issue at 96 cents apiece, which it …