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  1. #2901
    percy
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    Quote Originally Posted by Joshuatree View Post
    Touche Percy. And Heartland are savvy enough to modernise/ poplarize reverse mortgages. And re their Inheritage its quite sickening how little support many offspring give their parents anyway.
    Thank you for your post Joshuatree.
    I was expecting a bit of flack!!
    It is difficult for people with all their capital tied up in their home.What are they to do? Sell the house so the kids can have a good inheritance,and then go jump off a cliff?

  2. #2902
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    Quote Originally Posted by winner69 View Post
    And links to this article from the US
    http://dealbook.nytimes.com/2014/03/...gs&src=me&_r=0


    Surely hnz won't ed up being this mean
    i stopped reading after the first paragraph. Some BS story you expect from the Herald about kids getting no inheritance because their parents decided to spend their own money.

  3. #2903
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    Quote Originally Posted by belgarion View Post
    You meant the New York Times no doubt. ...

    I read it through and concluded that the US set up may be far more regulated than ours in NZ. Was my conclusion right?
    I dont read the NYT but the NZ Hearld has lots of articles like that - you know the type - the mother of 5 kids and another on the way cant afford to feed her family. Or the family think the retirement village riped of their parents bacause they dont get the 'capital gain' even though their parents loved living there and knew that when they signed up.

    As I said, I only read the first paragraph - I had no sympathy for the 'kids' that their inheritance was spend by the parents who earned it.

    I am sure Heartland will do it right so that their reputation is intact.

  4. #2904
    The Good Banksie's Avatar
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    Quote Originally Posted by Harvey Specter View Post
    As I said, I only read the first paragraph - I had no sympathy for the 'kids' that their inheritance was spend by the
    I read the article and must say it was a very disappointing piece of reporting. All it talks about is how much is owed to the companies. No mention of how much was borrowed and spent. As you say - just like the Herald - no balance at all.

  5. #2905
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    Quote Originally Posted by Joshuatree View Post
    Touche Percy. And Heartland are savvy enough to modernise/ poplarize reverse mortgages. And re their Inheritage its quite sickening how little support many offspring give their parents anyway.
    Some parents are really not nice people at all, and their sensible children get and stay as far away as possible. I know a couple of seriously nasty ones, one rather close to home. Only a minority I hope, but still, abandoned olds may be the authors of their own misfortune. They are not all apple pie baking grandmas and stern but fair patriarchs. We will likely never know the reasons, but that doesn't mean there are none.

  6. #2906
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    Quote Originally Posted by percy View Post
    The tooth fairy died.[poor].
    Percy!!! When did the tooth fairy die? Who killed her? Tragic situation, murdered for being a tooth fairy.

  7. #2907
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    Quote Originally Posted by Paper Tiger View Post
    Remember that they called the receivers in last year and almost certainly the HY accounts impairment provisions would have included an amount for this particular item [$5M13 of new individual impaired assets was added).

    When this is all settled then they might have to write off more or less than the amount currently set aside.

    Best Wishes
    Paper Tiger
    Looks like we have a buyer. I wonder if HNZ will get their money back?

    http://www.stuff.co.nz/business/indu...from-receivers
    No advice here. Just banter. DYOR

  8. #2908
    percy
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    Quote Originally Posted by noodles View Post
    Looks like we have a buyer. I wonder if HNZ will get their money back?

    http://www.stuff.co.nz/business/indu...from-receivers
    One never knows their luck in a big city? Let's hope so,yet receivers often leave very little after they have paid for the receivership.

  9. #2909
    percy
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    Quote Originally Posted by mouse View Post
    Percy!!! When did the tooth fairy die? Who killed her? Tragic situation, murdered for being a tooth fairy.
    She was driven to suicide by her bank losing her cash trading the derivatives' markets.
    We know it as the GFC.
    What a lot of people don't know is she thought she had her cash in Bear Stories,which she had always enjoyed,but it turned out to be Bear Sterns who went broke.
    Last edited by percy; 04-04-2014 at 07:16 AM.

  10. #2910
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    Quote Originally Posted by noodles View Post
    Looks like we have a buyer. I wonder if HNZ will get their money back?

    http://www.stuff.co.nz/business/indu...from-receivers
    HNZ is a secured creditor. IRD will have priority. Are there any back wages owed? Unsecured trade creditors will be last in line.

    As an aside. is the liquidator/receiver Gary Whimp connected to the Whimp who was behind the low-ball offers for various NZX listed companies?

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