Blue Sky Meats has strengthened ties with China, its largest market by volume and value, after two Auckland-based businessmen paid a premium for 11 percent of the unprofitable meat processor. Cook Huang and Qiang Zheng acquired the Blue Sky holding from Danish casings company DAT-Schaub Group for $2.33 million, or $1.80 a share in an off market share transfer, according …

Receivers for Mainzeal Property & Construction and Mainzeal Living recovered some $28.3 million from asset sales and recoveries in their first 12 months and made payments of $26.5 million, including settling outstanding wages and distributing surplus funds to the liquidators. Bank of New Zealand, which was owed $11.3 million as secured creditor of the Mainzeal companies, appointed PwC’s David Bridgman …

Chorus, the telecommunications network operator, has lost a bid to dismiss a Commerce Commission determination setting the price for services on its copper lines. The High Court turned down the Wellington-based company’s attempt to have the regulator’s initial pricing principle set aside, and for the commission to redo the process after its first decision ordered Chorus to slash prices for …