Auckland

Decision in Vestar Case reserved by Judge

Vestar

A decision for a case in which a former client sought to take action against insurers for failed financial advisers Vestar, has been reserved by a High court judge.

Compensation is being sought from QBE Insurance Ltd which provided Vestar's professional indemnity insurance by the former client, a trust, which invested an undisclosed sum with Vestar. The client appealed for it in a test case before the High Court at New Plymouth.

Upturn in Auckland housing market pointed by figures

Barfoot & Thompson

The city's largest real estate agency group, Barfoot & Thompson has informed that April was comparatively strong month for house sales volume and said that the strength is another encouraging sign of market recovery.

809 sales in April at an average price of NZ$502,726 was reported by Barfoot and Thompson.

The sales recorded in the year 2006 and 2007 were still higher than the number of sales over the month, which recorded 829 and 899, respectively. In April 2008 the sales were 453 recorded by Barfoots.
 

Jasons Travel Media reports lower profit

Jasons Travel Media

Jasons Travel Media has informed that its annual profit in the year to March 31 will be lesser than projected.

Chrisco takes on Mrs Christmas' client list

Chrisco

As per media reports, the existing client list of rival Mrs Christmas, which went into liquidation last month, has being taken on by Christmas hamper company Chrisco.

The Mrs. Christmas business has been bought by Chrisco, which would credit all existing customers with the amount they have paid and provide them a similar Chrisco package for the remainder of the year.

Recently, the courier company Post Haste, was not paid and filed for liquidation. The troubles for Mrs Christmas started after the reports came out in media.

Hanover Finance asks for extra $2.8m from Krukziener

Hanover Finance asks for extra $2.8m from Krukziener

Troubled property developer Andrew Krukziener, who owes a debt to Hanover Finance even had another $2.82 million added to the debt in Auckland's High Court this morning.

It has been learnt that Hanover which obtained a summary judgment in its favour in 2007, over a debt of $4.159 million relating to a failed joint venture property development is now trying to bankrupt the disturbed developer.

$1 air fare offered by budget Airline Jetstar

$1 air fare offered by budget Airline Jetstar

Australian budget airline, Jetstar, in a bid to expand into the New Zealand market sold 30,000 $1 fares, one way on all the domestic routes between Auckland, Christchruch, Wellington and Queenstown, within three hours and had an overwhelming response in New Zealand and Australia.

These special web fares are available for the travel from July 22 to September 22, subject to the availability of seats on selected days and flights, excluding the public and school holidays.

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