Another Finance Company takes a dive

down the gurglerAnother Finance Company has taken a dive this time owing $22 million. Belgrave Finance called in the receivers today.

From the Herald snippet it looks like their funding line was yanked. A 1000 debenture holders are affected.

They can at least take solace in the fact that Michael Cullen doesn’t believe that the US sub-prime crisi won’t or isn’t affecting Kiwis.