1 Oct 2008

Dominion Finance fined $65,000 over late report

12:51 pm on 1 October 2008

Dominion Finance Holdings has been fined $65,000 by the New Zealand stock exchange for not providing its annual report on time.

It's the latest problem for the troubled company: its subsidiary Dominion Finance has been placed into receivership, owing $224 million to more than 6000 investors.

Its other finance company, North South Finance is gradually selling assets to repay investors.

Dominion Finance Holdings reported a $108 million loss for the March, due to additional provisions for bad debts.