Private Bin understands that Strategic Finance, which yesterday disclosed a staggering un-audited first half loss of $99.8 million, is close to announcing a debt-for-equity swap deal with another company.
Strategic, which owes debenture-holders about $280 million, bond-holders $23 million and perpetual shareholders $50 million, needs a potential Hanover-style debt-for-equity deal to avoid receivership.
9:05PM Tuesday 22 May 2012
Homestrategic fiannce
Business
- Market close: Shares up from 5-week low - Telecom, Chorus, Fletcher rise
- NZ dollar holds gains, shrugs off Fonterra payout downgrade
- Pharmacybrands profit jumps on Radius acquisition
- Re-flagging foreign fishing vessels threat to NZ quota value
- Status quo for Jetstar here despite major Qantas revamp
- Canterbury outpaces Auckland growth in March year
- FMA wants feedback on non-standard earnings measures
- OfficeMax NZ boosts profit 6.6%, mulls Croxley future
- Augusta in red after $2m termination fee
- FYX mystery solved - Maxnet's new Australian owner speaks out
Property
- Augusta in red after $2m termination fee
- Paid content Pero selling Fendalton home for bigger one
- Paid content Strategic directors nab Auckland heritage CBD building
- NBR ONLINE Top Properties
- Paid content GHD's $25m move won't ease Auckland office woes
- Luxury Queenstown home sells for $7m
- Paid content Auckland mustn't make same mistakes - top realtor
- Paid content Council red-tape slasher proud of her team's work
- Paid content Sell city assets to help rebuild - Christchurch chamber
- Paid content New stadium: an albatross or a stunning asset?
Banking and Finance
- Paid content MasterCard NZ boss sees us ahead in some mobile payment areas - but behind in others
- Paid content Super Fund has nearly $500m exposure to EU banks
- ASB trust stumps up for $35m waterfront theatre
- Banker 'Moose' Tyler to head super funds
- Kiwi hits five-month low as ECB halts bank loans
- ANZ Bank investing $A300m to expand China network
- Big bank home loan rate cuts continue
- Paid content ON THE MONEY: Markets will spin when Twist ends
- Paid content Conservative business customers getting ready for upturn - BNZ
- BNZ first-half cash earnings up 36% on wider margins
Technology
- FYX mystery solved - Maxnet's new Australian owner speaks out
- Apple boss's half-billion pay package
- Budget 2012 gets its own iPhone, iPad, Android app
- Spotify all-you-can-eat music service launches in NZ
- Facebook shares fall sharply
- Telecom first with Galaxy S III pricing, pre-orders
- Google NZ posts another loss - and makes another tiny NZ tax contribution
- Quickflix NZ releases movie streaming app for iPhone, iPad; makes Android promise
- More possible flak for Sky TV as watchdog releases barriers to broadband uptake report
- Finally, Zuckerberg puts on a suit (PHOTO!)
Law and Courts
- Deadly pork disease fears prompt import ruling appeal
- No love lost between fraudster and fraud accused
- Dotcom wants data returned, won't reveal passwords
- Paid content Capital’s oldest gym disputes $1m IRD claim
- Paid content Defamation a double-edge sword
- Former government advisor duped by fraudster Stevens
- Bridgecorp director Rob Roest gets six and a half years
- Paid content Defamation case exposes rifts between govt agencies
- Paid content Lawyer Barry Hart owes bank more than $30m
- Paid content Barry Hart's High Court fight over mortgagee sale
Ad/Media
- NZ On Air releases original proposal for documentary that morphed into reality show The GC
- Celebs join 'sexual preference' equality campaign
- Coffey mornings for Saturday breakfast
- OgilvyAction takes the biscuit
- Paid content Tawdry TV show turns on viewers and tops TV3 ratings
- Paid content Fur flies over taxpayer-funded 'sexploitation' of women on TV
- Watchdog clears Sky TV-TVNZ igloo joint venture - but opens ISP partnership investigation
- Paid content Advertisers 'turned off' by poor quality NZ Herald journalism
- PR not just for corporates, says PRINZ winner
- Sky strikes back
Politics
- NZ POLITICS DAILY: Shane Te Pou, unwanted baggage
- Paid content Extended Economic Zone resources: Protecting while exploiting?
- Budget 2012 gets its own iPhone, iPad, Android app
- NZ POLITICS DAILY: Too much debt, or not enough work to go around?
- 'Introspective' NZ has shades of Muldoon - MFAT adviser
- Paid content Auditor-general investigates govt department over quake rebuild contract
- Paid content Should the government sell the $20b Cullen fund? - NBR readers' verdict
- Carter supports council asset sales to cap rates
- ACC boss: more privacy breaches will happen
- Police paid more than teachers because life on the line - Parata