NZF Group has suspended an interest payment to investors in its capital notes, due to a freeze on its assets by the receivers of NZF Money, its failed finance firm arm.
NZF Money collapsed in July last year, owing $16.4 million to investors.
NZF Group says the receiver, KorthaMentha, has refused to allow a $270,000 interest payment to investors due next month and it had no choice but to suspend that payment and future ones.
A date for a High Court hearing about the freezing orders is yet to be set.
NZF Group is under investigation by the Serious Fraud Office for related party loans and also faces legal action from NZF Money's receivers, KordaMentha.