Paul McBeth

Funds from the sale of Hawkins Construction to Downer EDI were recycled back into the leftover businesses to settle a claim on a major project, wind down the remaining projects, and prepare for a growing number of legal disputes, the receiver says. Paul McBeth reports on company wind-ups after quake rebuild and leaky building claims that means almost 1,000 contractors are owed about $44 million.

The Financial Markets Authority may take regulatory action against three financial services firms after its latest probe into replacement life insurance. BusinessDesk's Paul McBeth reports.

New Zealand's banking minnows loaned more aggressively in the first three months of the year, a period advisory firm KPMG noted as showing a deterioration in asset quality which contributed to smaller sector profit. Paul McBeth from BusinessDesk reports.

Fletcher Building has picked up KiwiRail chief executive Peter Reidy to head the company's construction division, which oversees the problematic Buildings + Interiors unit.

The liquidators of former Hawkins businesses that were ringfenced when Australia's Downer EDI acquired the New Zealand construction company are trying to unpick $453 million of related party loans, a move that will show if there's any money left for sub-contractors owed almost $44 million. Paul McBeth reports.