What has happened to Dominion Finance Group Limited?

Rod Pardington and Barry Jordan, Partners of Deloitte, have been appointed joint receivers of Dominion Finance Group Limited (“Dominion”, or “the Company”).

Why were receivers appointed?

Following a breach of its Trust Deed and following an extensive review of the Company, the Trustee concluded it is in the best interests of debentureholders for the Company to be placed into receivership.

Were other options considered?

The directors of the Company proposed a managed wind down.  After an extensive review of the company the Trustee concluded debentureholders would be better off under a receivership scenario as opposed to any alternative such as a managed wind down or moratorium.

Is North South Finance also in receivership?

No.  At present the directors of North South Finance Limited (“NSFL”) are working to put a managed wind down proposal to NSFL’s Trustee, Covenant Trustee Company.

What happens in the receivership going forward?

We will immediately secure the assets of the Company and commence a review to determine the Company's financial position. We will prepare and send a report to all debentureholders on our initial findings as soon as possible.

When will we know if we will get our money back?

In view of the number and complex nature of many of the Company’s loans we are unable to provide an estimate of potential returns to debentureholders until we have completed our review.

I am a debentureholder, what happens to my investment?

The suspension of principal and interest payments will continue until we can assess the position on completion of our review.

I am a shareholder or debentureholder in Dominion Finance Holdings Limited.  How do I find out about my investment?

Dominion Finance Holdings Limited is not in receivership.  All queries in respect of your shareholding should be directed to Dominion Finance Holdings Limited.

If I have more questions, how can I get these answered?

Please email us with any questions specific to Dominion Finance Group Limited (In Receivership). Just select the company name from the drop down list, fill in your details and click the send button.

If you prefer to speak to someone, a dedicated phone line is available until further notice on 09 306 4343.

We can also be contacted by post at the following address:

Dominion Finance Group Limited (In Receivership)
C/- Deloitte
PO Box 33
Shortland Street
Auckland 1140