The Financial Markets Authority has settled a civil claim against the directors and promoters of failed finance company Hanover Finance for $18 million just two weeks before it was due to be heard in court. The money will be distributed to eligible investors who invested in the Hanover Finance Ltd (HFL), Hanover Capital Ltd (HCL), United Finance Ltd (UFL), in …

Disgruntled Alliance Group shareholders say they hope to have the support from 5 percent of their number within the next 10 days that’s required to force a special meeting to discuss the potential benefits and risks of a merger with Silver Fern Farms. Last week Silver Fern Farms shareholders crossed the 5 percent threshold to force a special meeting of their meat cooperative …

The number of Auckland house sales were at the highest in 11 years for a June month, while falling from May as winter starts to slow activity, according to Barfoot & Thompson. The city’s biggest realtor sold 1,167 houses in June, down from 1,225 in May, though 13 percent more than the same month a year earlier, it said in a statement. New …