Finance company collapses, 2006–2012 (New Zealand)
Between May 2006 and the end of 2012 there were sixty-seven finance company collapses in New Zealand; including companies entering into liquidation, receivership or moratoria. An inquiry by the New Zealand Parliament estimated losses at over $3 billion that affected between 150,000 and 200,000 depositors. The most high-profile collapses were South Canterbury Finance, Hanover Finance and Bridgecorp Holdings. The collapse radically reduced the size and importance of the non-bank finance sector in New Zealand. According to the Reserve Bank, at the height of financial expansion prior to the 2007 crisis, non-bank lenders had assets of about $25 billion and made up 8 percent of lending by financial institutions. By late 2013 the size of the finance sector was half its previous size and accounted
Bridgecorp HoldingsCorruption in New ZealandCrown Retail Deposit Guarantee SchemeEconomy_of_New_ZealandFinance company collapses, 2006-12 (New Zealand)Finance company collapses, 2006-2012 (New Zealand)Finance company collapses (New Zealand)Financial Markets Authority (New Zealand)Great Recession in OceaniaHanover FinanceMark HotchinSouth Canterbury Finance
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Finance company collapses, 2006–2012 (New Zealand)
Between May 2006 and the end of 2012 there were sixty-seven finance company collapses in New Zealand; including companies entering into liquidation, receivership or moratoria. An inquiry by the New Zealand Parliament estimated losses at over $3 billion that affected between 150,000 and 200,000 depositors. The most high-profile collapses were South Canterbury Finance, Hanover Finance and Bridgecorp Holdings. The collapse radically reduced the size and importance of the non-bank finance sector in New Zealand. According to the Reserve Bank, at the height of financial expansion prior to the 2007 crisis, non-bank lenders had assets of about $25 billion and made up 8 percent of lending by financial institutions. By late 2013 the size of the finance sector was half its previous size and accounted
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Between May 2006 and the end o ...... ation of the finance industry.
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Between May 2006 and the end o ...... ts previous size and accounted
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Finance company collapses, 2006–2012 (New Zealand)
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