Recent Posts

Bermuda-based Richina Pacific in provisional liquidation, gives registrar financials

Richina Pacific, the parent of failed construction firm Mainzeal Property & Construction, is in provisional liquidation since quitting the NZX five years ago, and has handed over its financial statements to the Companies Registrar for the financial years leading up to its demise. The registrar was looking into the financial reporting obligations the Mainzeal and Richina group of companies, which …

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Godfrey Hirst pulls $50M dividend from profitable NZ business

Godfrey Hirst, which acquired failed carpet maker Feltex in 2006, has pulled a $50 million dividend from its New Zealand business while reporting annual sales growth and one-time gains from asset sales and purchases. Profit was $10.8 million in the year ended June 30 for Hirst’s Avon Pacific Holdings unit, from $10.3 million a year earlier, according to the Auckland-based …

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