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26-06-2014, 11:13 AM
#3201
Originally Posted by Roger
I can't help wondering what HNZ are doing lending money to a "fashion" business without adequate security...
Too true Roger. This women's clothing store has been in business since 2000 so I'd be interested to see which entity advanced the loan and when !
Suspect this is something HNZ has adopted rather advanced themselves. Or like w69 puts it,part of the legacy loans "that will sink HNZ" !!!
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26-06-2014, 02:40 PM
#3202
Originally Posted by belgarion
Most probably.
Yeah right,.!!!!!! lol.
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26-06-2014, 02:56 PM
#3203
Member
Originally Posted by belgarion
Most probably.
Well lets look at the figures.... the 2mill will probably be the equivalent of about 1.7% of Heartlands profit? In other words: "oh damn, I need to take the car into the mechanics".
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26-06-2014, 03:22 PM
#3204
Originally Posted by vorno
Well lets look at the figures.... the 2mill will probably be the equivalent of about 1.7% of Heartlands profit? In other words: "oh damn, I need to take the car into the mechanics".
Well without knowing what security Heartland hold I can not guess if,or how much they may have to right off!!
Your point is off course correct,"oh damn" !!!
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26-06-2014, 03:44 PM
#3205
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26-06-2014, 04:32 PM
#3206
Member
Hi PT, my guess is that HNZ had already provided for this in their half yearly accounts to Dec 2013. So it will NOT adversely affect the P&L. The receivers were appointed in July 2013 and it seems that HNZ is the one putting them into receivership.
http://www.business.govt.nz/companie...D8%26limit%3D1
The insolvencies reports are here too http://www.business.govt.nz/companie...tart=0&limit=1.
Percy, still a 50/50 chance for free beer. It should not affect the SP as far as Insto or big investors are concern as there should be no further effect on P&L.
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26-06-2014, 05:45 PM
#3207
Originally Posted by Cool Bear
Hi PT, my guess is that HNZ had already provided for this in their half yearly accounts to Dec 2013. So it will NOT adversely affect the P&L. The receivers were appointed in July 2013 and it seems that HNZ is the one putting them into receivership.
http://www.business.govt.nz/companie...D8%26limit%3D1
The insolvencies reports are here too http://www.business.govt.nz/companie...tart=0&limit=1.
Percy, still a 50/50 chance for free beer. It should not affect the SP as far as Insto or big investors are concern as there should be no further effect on P&L.
I do have concerns that you may be a very thirsty Bear by the 9th of July.
Do you "Cool Bears" sort of soak up liquids before you hibernate??
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26-06-2014, 08:30 PM
#3208
Originally Posted by percy
As the woman has been broke before I doubt she has left any "assets" for creditors.
I can only hope Heartland had good personnel assets, and guarantees in place..I would have thought Heartland would have required more security than a fashion retailer's business assets.Well,I hope so.! When I had a retail business I had to put my house up for "extra" security.
Part of the business risk of being a finance company/bank.If people don't repay their loans you go broke too.!
How much of the Heartland Bank $2.1 million is the total amount actually paid out by Heartland, as opposed to cash not paid in to Heartland by Catherine? For example, Heartland, or its previous company, may have loaned $400,000 to Catherine a few years ago. She evidently was a 'slow payer' and penalty interest rates applied. Those would swallow an Iceberg without any problem. It would certainly make a Debt Mountain out of $400,000. My figures are purely theoretical, plucked from the air. As is, I suspect, the $2.1 million owed.
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26-06-2014, 08:52 PM
#3209
Catherine put into Receivership in July last year, so would have been festering for a while before that
if you notice Heartland staff and directors all wearing fishnets, you know they have taken posession of inventory....
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26-06-2014, 09:11 PM
#3210
Member
Originally Posted by percy
I do have concerns that you may be a very thirsty Bear by the 9th of July.
Do you "Cool Bears" sort of soak up liquids before you hibernate??
Haha. If, or rather when, HNZ hits $1, this bear can afford to go somewhere warmer and do not need to hibernate in the cold.
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