24 February 2011 – 12.10PM

The Palms Shopping Centre in Shirley will remain closed today following Tuesday’s severe earthquake. There is no public access to all centre facilities including the ATM machines and car parks.

Centre management is working closely with authorities to make the necessary structural and safety checks.

AMP Capital Shopping Centres (AMPCSC) Senior Centre Manager Jennifer Andrews said, “Our thoughts and condolences are with everyone affected by the devastating earthquake and the ongoing aftershocks.

“Customers and staff who would like to make a donation can participate in the earthquake appeal at collection points in-centre at Botany Town Centre in East Auckland and Bayfair Shopping Centre in Tauranga.”

Centre management will issue an update on the time of re-opening as soon as possible. Updates will be posted on The Palms Shopping Centre Facebook page and website.

http://www.facebook.com/pages/The-Palms-Shopping-Centre/144755025564699#!/pages/The-Palms-Shopping-Centre/180492305315588

www.thepalms.co.nz

Retailers and customers can also ring 0800 SHOP AMP (0800 7467 267) for more information.

ends

23 Wednesday 2011, The Palms Shopping Centre in Shirley will remain closed this morning following yesterday’s severe earthquake.

Centre management is working closely with authorities to make the necessary structural and safety checks.

Centre management will issue an update on the time of re-opening as soon as possible.

Updates will be posted on The Palms Shopping Centre Facebook page and website.
www.facebook.com/home.php#!/pages/The-Palms-Shopping-Centre/144755025564699
www.thepalms.co.nz

Retailers and customers can ring 0800 SHOP AMP (0800 7467 267) for more updates.

22 Tuesday 2011, The Palms Shopping Centre in Shirley has been fully evacuated following this afternoon’s severe earthquake.

The centre is closed to allow for the necessary safety and building checks.

Centre management will issue an update on the time of re-opening as soon as possible.

Updates will be posted on The Palms Shopping Centre Facebook page and website.
www.facebook.com/home.php#!/pages/The-Palms-Shopping-Centre/144755025564699
www.thepalms.co.nz

Retailers and customers can ring 0800 SHOP AMP for more updates.

16 February 2011

Kerryn Downey and William Black of McGrathNicol, as receivers of the SCF Group, have commenced a process for the potential sale of SCF’s commercial plant and equipment finance business, FACE Finance, as a further step in realising the assets of the SCF Group.
FACE Finance primarily focuses on “big ticket” financing in the transport and infrastructure sectors and has operated on a largely standalone basis from the rest of the SCF group since establishment, with a separate distribution network and customer relationships.  This sale process will be conducted by Deutsche Bank AG, as sale advisor to the Receivers for SCF’s core finance business. 
Mr Downey and Mr Black say they believe the potential sale would offer the opportunity to transition the business out of receivership and provide greater certainty to customers going forward.
The Receivers have yet to announce the sale process for the consumer and commercial lending businesses of SCF, although they expect this process will commence within two to three months.
Ends
Media Enquiries:
This release issued on behalf of McGrathNicol by:

Kate Alexander
Alexander Communications
12a McColl Street
Newmarket
Auckland, New Zealand

Tel:    +64 9 524 4957
Mob:  +64 27 244 6094

kate@alexandercomms.co.nz
Enquiries to Deutsche Bank should be directed to:

David Gibson
Managing Director
Deutsche Bank AG, New Zealand branch
Tel: +64 9 351-1523
Email: david.gibson@db.com
About McGrathNicol
McGrathNicol is an independent advisory firm specialising in corporate advisory, forensic, transaction services and corporate recovery. It is a market leader in Australia and New Zealand, with more than 300 people across the region, including more than 31 partners. McGrathNicol New Zealand was the receiver for Feltex and managed the high-profile HIH Insurance liquidation.

15 December 2010

Kerryn Downey, the Receiver for South Canterbury Finance Limited, announced today that he had reached an agreement with four other shareholders in Dairy Holdings Limited to jointly market for sale a combined 62.5% shareholding in the company.

The 62.5% shareholding in Dairy Holdings is comprised of:

• the 33.6% shareholding owned by South Canterbury Finance (in receivership)
•  the 24.99% shareholding owned by three US investors; and
• the 3.9% shareholding owned by Humphry Rolleston.

The sale process, which will commence before Christmas, will build on the process undertaken over the past two months by the US/Rolleston interests for their combined 28.9% shareholding.

Humphry Rolleston said that the sale process conducted by Murray & Company had attracted strong interest from potential buyers, but that the opportunity to sell a majority stake in Dairy Holdings was likely to be more attractive to a broader range of parties.

Kerryn Downey noted that it was possible that a shareholding in excess of 62.5% could ultimately be sold depending upon whether the other shareholders of Dairy Holdings also wish to sell their shares in Dairy Holdings. “There is the opportunity for them to join the sale process we are undertaking at any stage,” said Downey.

The Receivers have appointed First NZ Capital to act with Murray & Company as joint sale advisers for the sale of the combined shareholding in Dairy Holdings Ltd.
ends

For further information regarding the SCF Group, please refer to the website (www.scf.co.nz) and the Receivers’ website (www.mcgrathnicol.com).

Media Enquiries:
This release issued on behalf of McGrathNicol by:
Kate Alexander
Alexander Communications
Tel:    +64 9 524 4957
Mob:  +64 27 244 6094
kate@alexandercomms.co.nz

About McGrathNicol
McGrathNicol is an independent advisory firm specialising in corporate advisory, forensic, transaction services and corporate recovery. It is a market leader in Australia and New Zealand, with more than 300 people across the region, including more than 31 partners. McGrathNicol New Zealand.

Note to media
Kerryn Downey and William Black, of Advisory firm, McGrathNicol, were appointed Receivers and Managers of South Canterbury Finance Limited and its charging subsidiaries on 31 August 2010.

17 December 2010

Australian-based Suncorp Group announced that it has today entered into a conditional agreement to sell Guardian Trust to leading Australian independent trustee The Trust Company for NZ$42 million, as part of a focused strategy by Suncorp Life to grow its core life and income protection business in New Zealand.

Guardian Trust is currently part of the New Zealand-based arm of Suncorp Life, which also manages specialist life businesses Asteron and AA Life. 

Suncorp Life New Zealand Managing Director Sean Carroll said that Guardian Trust has been a very important part of Suncorp Life New Zealand to date, and that the decision to sell the trust business to a like-minded trustee parent company is part of its strategy to ensure both Suncorp Life New Zealand and Guardian Trust can continue to grow in their respective industries. 

“Asteron and AA Life, Suncorp Life New Zealand’s flagship brands, are specialists in life and income protection, while Guardian Trust is a trustee company.  Asteron, AA Life and Guardian Trust are all strong performers and are well-placed to pursue growth in their respective markets, and it makes commercial sense to ensure that each is aligned with a parent company which specialises in its respective market“ says Mr Carroll.  “This has been a joint effort and we are all very pleased with the outcome”. 

Mr Carroll confirms that the new owner was selected carefully in order to ensure Guardian Trust is well-positioned to continue its strong performance. The Trust Company is publicly listed and Australia’s largest independent trustee company. There are strong cultural similarities between Guardian Trust and The Trust Company, and both companies are pre-eminent providers of personal and corporate trustee services in their respective markets.

The Trust Company Chief Executive Officer John Atkin said that Guardian Trust’s brand and existing resourcing levels will be maintained, with further investment for future growth in the coming years. “We are delighted to have reached agreement with the Suncorp Group to acquire Guardian Trust, which is widely regarded as the pre-eminent trustee company in New Zealand.  The strong alignment between our respective trustee business models, our similar dedication to client service, our market positions as leading trustees and advocates for our industry and our common heritage makes Guardian Trust an ideal fit”.

John Botica, Managing Director of Guardian Trust, said the purchase was “extremely good news for all parties. This is an exciting opportunity for Guardian Trust and our customers, and one that we have achieved by working closely together with Suncorp Life and The Trust Company”.   Mr Botica will continue as Managing Director of Guardian Trust. 

The conditional sale and purchase agreement was signed today, with the sale process scheduled for completion in the first quarter of the 2011 calendar year.

ends

For more information:

Kate Alexander
Alexander Communications
+64 (0)27 244 6094
kate@alexandercomms.co.nz

 About Guardian Trust

Guardian Trust, with origins dating back to 1882, has been serving New Zealanders for generations and is a market leader in personal and corporate trusts. Through its network of offices Guardian Trust manages approximately NZ$3.3 billion of assets on behalf of some 4,500 trust, estate and agency clients, and provides corporate trustee services for the issue of securities, with over NZ$56 billion under supervision.

 About The Trust Company

The Trust Company is one of Australia’s longest serving financial services companies with over 125 years of experience.  The Trust Company provides a wide range of financial services including:

• Personal Services offering Wealth Transfer Planning, Lifestyle Care, Health & Personal Injury services, Funds Management, Financial Planning, Estates & Trusts administration to intermediaries and the wider retail market.
• Corporate Services offering Property & Infrastructure Custody services, Responsible Entity services, Superannuation Compliance & Trustee services, Structured Finance Trustee services and REIT Trustee services to institutions.
• Philanthropy Services include setting up charitable structures, advice on taxation and charitable vehicles, funds management and assistance selecting charitable projects.

The Trust Company has offices in Sydney, Melbourne, Brisbane, Townsville, Perth and Singapore with over 230 employees and a market capitalisation of approximately A$190 million.

About Suncorp Life New Zealand

Suncorp Life New Zealand manages life risk companies Asteron Life and AA Life.  It has over NZ$1.1 billion of funds under management and looks after the financial protection needs of 203,000 clients.

Suncorp Life is one of Australia and New Zealand’s largest financial service providers with key business activities in life assurance, superannuation savings, funds management and trustee services. A member of the Suncorp Group, Suncorp Life is part of an entity with approximately 9 million customers with over NZ$935 million of life insurance premiums and in excess of NZ$30 billion funds under management.

From the glistening sands of deserted beaches to the splendour of fine wine and dining experiences, Waiheke Island enjoys unique status and is the ideal destination for weekend escapes, conferences and business meetings.

The island’s largest and most well-equipped venue, the Waiheke Island Resort, has been given a new lease of life with a new management team, providing the destination with a timely uplift in service and appearance.

The new team is a group of highly qualified professionals, all locals with deep knowledge of the area and an abiding passion both for the island and the resort.

“This well-known and sought-after destination has attracted some great talent,” Waiheke Island Resort Conference Director Nique van Selm says. “We are very fortunate to have assembled a group of accomplished managers who are among the best in their respective fields and share the vision we have for this venue.”

Nique van Selm, originally from South Africa, has lived on the island for eight years and has more than 20 years’ experience in the publishing and event management industries. Nique is joined by Tanya Charman, Waiheke Island Resort Sales Director, who has lived on Waiheke for 30 years and has a wealth of experience across the hospitality and marketing industry.

Assistant General Manager Chris Samuels also has a long association with the property. Chris is the backbone of the business, heading the accounts department and overseeing operations.

The Dunes (also part of The Waiheke Group, which owns and operates Waiheke Island Resort) is the island’s glamorous destination for special events and weddings. The unique venue boasts open views and access to the golden sands of Onetangi Beach, and has a hidden gem in the form of Executive Chef Uges Chand.

“We ‘imported’ Uges from the UK to head up the catering for our resort. He is a true asset to our team and we are privileged to have this highly skilled chef here,” Nique van Selm says. Uges originally spent eight years at Waiheke Island Resort before heading off to new ventures abroad and later running his own restaurant in New Zealand.

Uges is supported by Food and Beverage Director Kahn Denton, who has spent most of his life on the island. Kahn has extensive industry knowledge and experience through New Zealand and offshore career ventures, managing various bars such as Cats Tango, Harbourmasters and Kingfish Lodge in Whangaroa.

An event at Waiheke Island Resort or The Dunes is a world-class experience. The resort is equipped to cater for all types of events, from standard conferences to themed and extravagant events, and the team has the contacts and experience to make them a success.

To complement the new team, the resort’s 51 villas and five-bedroom lodge have undergone refurbishment, reinventing the accommodation experience and constituting a substantial investment in the local hospitality industry. Situated in a prime location, the resort’s rooms boast magnificent views of the Hauraki Gulf and are accompanied by a tennis court, restaurant and day spa for guests.

Friendly Waiheke service is ingrained through the resort, with front of house managed by Veronica Lewis, who is originally from Hawaii and has been with the resort for 11 years. As first point of contact for guests, the resort’s receptionist, Verina Potgieter, has a wealth of experience, from publishing to photo journalism, and is skilled at showcasing the offering.

ends

Amid the controversial introduction of new regulations for the financial services industry and high levels of consumer distrust of advisers, a new support services group for organizations and advisers in the financial services sector is pledging to bring a new level of performance and education to the industry.

Ginger Group is the result of the combination of three established distribution organizations: financial services, investment and accountancy firm PIS (NZ) Ltd, the Minerva Group (which undertook a joint venture with PIS in mid-2009 to form Minerva PIS (NZ)), and Brokers Independent Group (BIG), an advisory group with a substantial training and business support arm for financial advisers. Ginger Group consists of more than 400 financial services practitioners in all branches of the industry.

The creation of Ginger Group brings significant scale to the services offered to members, including assistance with personnel, IT systems and processes, business development, training and succession planning. The group’s products and services are focused on financial planning, risk insurance, mortgage broking, accounting, retirement planning and tax advice.

Ginger Group CEO and executive director David Whyte says the group will help bring stability to a badly shaken industry, as advisers come to grips with regulatory changes. “New Zealand is a notoriously underinsured market when it comes to risk, and there is a clear need to rebuild trust in the wake of finance company collapses, widespread investor losses and highly publicized incidences of poor financial advice.

“Among what we’re offering to members which is unique in the industry is a full-time compliance officer, so all advisers affiliated with Ginger Group can be sure they are meeting all their legal obligations – whether they are authorized or registered financial advisers – and their clients can be confident they’re getting customized solutions that will work for them at the time needed.”

My Whyte says Ginger Group’s provision of a permanent compliance service would also ensure all members have regulatory expertise appropriate for the service they provide.

“The label of financial services has become something of a catch-all, and in our view it’s important to help consumers find the right adviser for their specific needs. It is crucial that industry groups, such as our own, show leadership as regulatory changes take effect, in order to protect and assist both consumers and advisers.

“In our view it is not the complexity of the product which should drive regulation but the complexity of the application of the product. For instance, a shop assistant recommending credit protection insurance for someone buying a washing machine need not be authorized, but should be obliged to disclose how much is being earned by the store for recommending the product. For disclosure to be effective, there must be consistency across the board in providing factual data to assist the consumer make an informed decision.

“Conversely, a financial adviser recommending shareholder protection, partnership insurance or other complex financial arrangements should be authorized, competent, and qualified to do so. Ginger Group will, among other services, actively support industry standards and the educational requirements for compliance, sales, and practice management development.

In addition to the in-house Compliance Service, Ginger Group is negotiating access to a specialist underwriting and claims service to assist with complex cases.

Also on board with Ginger Group is the major Australasian mortgage broking company Loan Market, which secures more than $100 million in home finance each month in New Zealand, and is in turn linked to Ray White, one of the largest real estate companies in New Zealand and Australia.

“Our relationships across the financial services industry are at the core of what we offer our members,” Mr Whyte says. “As a service support company we can give advisers the service that they would either have to pay exorbitant amounts for or not be able to access at all. And Ginger Group’s connections with practitioners as diverse as chartered accountants, mortgage brokers, and life insurance advisers mean we can foment valuable business relationships among members, for lead generation and business development and growth via other qualified professionals.”

ends

Fifty nine talented buskers from across Auckland and even as far as Hamilton descended on LynnMall Shopping Centre and Botany Town Centre over the weekend for a chance to win a special busking licence to perform during the Christmas shopping period. Renowned talent scout and music producer Gray Bartlett was the lead judge of the competition and awarded busking licences to 42 outstanding performers.

One lucky busker in particular stood out from the rest. When Michael Murray heard about the busking competition at his local mall, he knew he had to be there for his chance to be discovered. The talented individual was second off the block at the audition and captured the audience as he stepped off stage to serenade the seated guests. His pitch-perfect vocals and guitar work also impressed lead judge Gray Bartlett, who has offered Michael the chance to record a track on his new CD, to be released next year.

“From the moment Michael stepped onto the stage, I knew he was going to deliver an excellent performance,” says Mr Bartlett. “His personality shone through and vocals were strong – he was the whole package.”

Gray Bartlett’s CD will be a collaboration of some of New Zealand’s top artists, with proceeds going to the Make-A-Wish Foundation.

A special mention was also given to the talented duo Mike & Shay, who wowed Mr Bartlett with their seamless acoustic guitar performance. Their tenacity on stage and raw talent impressed Gray so much that he has kindly offered one of his own valuable guitars to one of the duo, whose talent is sure to soar with the use of a quality instrument.

“It is great to see the top prize go to someone from West Auckland,” says LynnMall Marketing Manager Linh Luong. “Not only did the spotlight shine on Michael and Mike & Shay, but it did on all of the other participants at the Lynnmall audition. We were so impressed with the West Auckland talent, that we awarded all our participants a busking license.”

Botany Town Centre Marketing Manager Desiree Clark says the competition showcased some amazing talent from the local community and beyond. “The number of registrations received and the calibre of talent was overwhelming. We look forward to sharing the amazing busking talent with our shoppers during the festive season.”

Michael Murray and Mike & Shay will join 20 other performers selected to busk at LynnMall over the Christmas shopping period, from 16 to 24 December. Twenty buskers have also been selected to perform at Botany Town Centre from 15 to 24 December. 

Click here to view the LynnMall Shopping Centre and Botany Town Centre Best Buskers video highights posted on Youtube.com.

4 November 2010

Kerryn Downey and William Black of advisory firm McGrathNicol were appointed Receivers and Managers of Southbury Group Limited and Southbury Corporation Limited (the “Southbury Companies”) last night (3 November 2010).

Kerryn Downey and William Black are also the Receivers and Managers of South Canterbury Finance Limited (SCF) and its 13 charging subsidiaries and were appointed on 31 August 2010.

Southbury Group Limited was incorporated in December 1987 and holds 100% of the shares in Southbury Corporation Limited, which was incorporated in September 2009.  Southbury Corporation Limited holds 100% of the shares in SCF.

The receivers have taken possession and control of all of the assets and undertakings of the Southbury Companies that together, through funding by SCF, hold a diverse range of investments. SCF is a major secured creditor to the Southbury companies.

Kerryn Downey said that the receivership was necessary to gain access to the records and better management control of the group. “It’s a critical step to protect value and ensure we get the best possible outcome for the Crown. It will also help in ongoing investigations into SCF’s finances,” he said.

The Southbury receivership will not affect the sale process for SCF’s interests in Helicopters (N.Z.) Limited or Scales Corporation Limited (Scales). Both HNZ and Scales are separate from the core finance business of the SCF Group, are not in receivership and have leading positions within their respective industries. “And South Canterbury Finance will continue to trade as usual,” Mr Downey said.

The South Canterbury Finance receivership is the largest and one of the most complex in New Zealand’s history. It is also the only finance company in receivership where the company and its 13 subsidiaries have continued to trade.
Ends

For further information regarding the SCF Group, please refer to the website (www.scf.co.nz) and the Receivers’ website (www.mcgrathnicol.com).

Media Enquiries:
This release issued on behalf of McGrathNicol by:
Kate Alexander
Alexander Communications
Tel:    +64 9 524 4957
Mob:  +64 27 244 6094
kate@alexandercomms.co.nz

About McGrathNicol
McGrathNicol is an independent advisory firm specialising in corporate advisory, forensic, transaction services and corporate recovery. It is a market leader in Australia and New Zealand, with more than 300 people across the region, including more than 31 partners. McGrathNicol New Zealand.
Note to media
Kerryn Downey and William Black, of Advisory firm, McGrathNicol, were appointed Receivers and Managers of South Canterbury Finance Limited and its charging subsidiaries on 31 August 2010.

Charging Group Entities (collectively “the SCF Group”)
South Canterbury Finance Limited (In Receivership)
Belfast Park Limited (In Receivership) 
Braebrook Properties Limited (In Receivership) 
Face Finance Limited (In Receivership)
Fairfield Finance Limited (In Receivership) 
Flexi Lease Limited (In Receivership) 
Galway Park Limited (In Receivership)
Helicopter Nominees Limited (In Receivership)
Hornchurch Limited (In Receivership)
Rental Cars Limited (In Receivership)
SCFG Systems Limited (In Receivership)
Sophia Investments Limited (In Receivership)
Southbury Insurance Limited (In Receivership) 
Tyrone Estates Limited (In Receivership)