Down they go

10th finance company goes under – 05 Oct 2007 – NZ Herald: New Zealand Business and Personal Finance News

A 10th Finance compnay has gone down the gurgler with more sure to follow. This financial disaster is only going to grow as investors seek to get their money out. Even the most sound will teeter.

Clegg & Co is a smaller one but has gone down owing $15 million and investors in Five Star Consumer Finance have found out this week that they should expect 26c – 40c on the dollar. They'll get the lower number, they always do.

If the rumours are true another will drop very shortly.

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