The statutory managers for the late Allan Hubbard’s Aorangi Securities have lost a bid to exclude an American widow who had some $5.8 million invested with the Timaru businessman. In the High Court in Christchurch, Justice Robert Dobson today struck down a bid by Grant Thornton’s Richard Simpson, Trevor Thornton and Graeme McGlinn to have Susan Jenks and her deceased …

Goodman Fielder, the biggest food company in Australia and New Zealand, agreed to sell its Biscuits unit to Green’s Food Holdings for about A$17 million and will take an impairment of more than three times that amount against the business. The sale is part of the Sydney-based company’s ongoing strategy to focus on profitable, market-leading categories and brands which has …

New Zealand Oil & Gas, the nation’s largest oil explorer, has taken a 36 percent stake in a consortium to explore onshore south Sumatra, Indonesia. The consortium won a permit to explore the Palmerah Baru 1,000 square kilometre block, the Wellington-based company said in a statement. The venture plans to undertake three years of exploration including 2D and 3D seismic …