Originally Posted by
invessi
Minimoke, (and TTG) don't you think a bit of good faith is in order.......
NZF home loan deal still on: Thornton
NZF Group's deal with the unnamed Australian private company which is expected to take a majority stake in NZF's home loans division should still proceed despite the group's subsidiary NZF Money going into receivership last week, says chief executive Mark Thornton.
Tuesday, July 26th 2011, 3:00PM
by Jenny Ruth
"As late as today (Tuesday), we have confirmation that the proposed transaction with the Australian investor should take place as that business is not linked to NZF Money," Thornton says.
"The receivership does not have any effect on the rest of the group apart from some brand damage I suspect," he says.
NZF continues to own its home loans division and 50% of the Mike Pero Mortgages franchise group, both of which are profitable.
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