Kiwi Income Property Trust may need to sell assets or raise equity to reduce its debt gearing should a proposal to bring its management inhouse go ahead, according to Craigs Investment Partners research analyst Chris Byrne. The Trust, managed by a company owned by Commonwealth Bank of Australia, may have to pay the bank A$66 million or NZ$75 million to …

Briscoe Group, whose shares have grown four times faster than the NZX 50 Index in the past five years, is eager to make acquisitions or substantial investments using a cash pile that may have grown to $90 million by January 2014. Managing director Rod Duke, who owns 78 percent of the listed retailer, said by the end the financial year, …

The cost of administering the frozen funds of late businessman Allan Hubbard has topped $17 million, of which almost a third was hoovered up in legal fees. Since the Hubbard entities were put into statutory management in 2010, Grant Thornton’s Richard Simpson, Trevor Thornton and Graeme McGlinn have racked up $1.4 million overseeing the administration of Te Tue Charitable Trust, …