31 May 2012

NZF Group posts $16.2 million loss

6:01 am on 31 May 2012

NZF Group has posted a loss of $16.2 million in the year to March, mainly due to the receivership of its failed finance arm.

The company is under investigation by the Serious Fraud Office and has had legal action taken against it by the receiver of its subsidiary NZF Money.

NZF has an interest in the Home Loans division it sold to Resima, and a half stake in Mike Pero Mortgages, in which it is also in dispute with one of the owners, Liberty Financial.