Skip to content

News Room


Credit Sails News Clippings

Credit Sails has made front page news since it began to show signs of weakness.  On this page you will find the historical articles as well as news as it is published.

Feel free to add to this if you find anything or have any local news that may not be easily traced on the web.

Relevant Articles:

2013

10 December 2013 – Business Day, Record $60m Credit Sails deal almost paid out, by Tim Hunter

17 June 2013 – Business Day – Forsyth Barr makes Credit Sails Claim, by Tim Hunter

27 May 2013 – Business Day – Tribunal says estate’s claim not for them, by Tim Hunter

8 March 2013 – Business Day  – Brokerage Sails pitch condemned, by Tim Hunter and James Weir

7 March 2013 – Sharechat.co.nz – Credit Sails’ oldies save Forsyth Barr, Credit Agricole from courtroom

7 March 2013 – MSN – Regulator Justifies Credit Sails Deal

7 March 2013 – MSN – Forsyth Barr criticises regulators’ report

7 March 2013 – National Business Review – Only expert investors should have put money in Credit SaILS – ComCom, by Blair Cunningham

7 March 2013 – National Business Review – Credit SaILS report creates ‘imbalanced impression’ – Forsyth Barr, by Paul McBeth

7 March 2013 – RadioNZ – Commission happy with debt securities settlement

7 March 2013 –  NZ Herald – Credit Sails report holds ‘factual errors’ – Forsyth Barr

7 March 2013 – Interest.co.nz – Forsyth Barr executives exposed in emails published by Credit Sails, by Bernard Hickey

7 March 2013 –  Goodreturns.co.nz – Com Com slams Forbar over Credit Sails, by Niko Kloeten

7 March 2013 –  3 News NZ – Forsyth Barr ‘misleading’, ‘deceptive’ – ComCom, by Emma Jolliff

7 March 2013 –  Business Day –  Credit Sails emails exposed, by Tim Hunter

2012

19 December 2012 – NZ Herald – $60m good news: investor, by Tamsyn Parker

19 December 2012 – Otago Daily Times –$60m fund to reimburse investors, by Dene Mackenzie

19 December 2012 – Otago Daily Times – Deal too late for some Credit Sails Investors, by Dene Mackenzie

19 December 2012 – Business Day – Record settlement for Credit Sails Investors, by Tim Hunter

19 December 2012 – RadioNZ – Credit rating influenced Credit Sails recommendation

18 December 2012 – Business Day – Relief and anger from Credit Sails Investors, by Tim Hunter

18 December 2012 – Interest.co.nz – Investors in kiwi subprime disaster Credit Sails to get back NZ$60mln from Forsyth Barr and Credit Agricole after Commerce Commission settlement

18 December 2012 – National Business Review – Settlement Credit Sails Failure

18 December 2012 – NZ Herald – Credit Sails $60m settlement reached, by Tamsyn Parker

18 December 2012 – Commerce Commission – Commerce Commission secures $60m for investors in failed Credit SaILS product

18 December 2012 – NZX – Settlement reached with Commerce Commission

25 September 2012 – New Zealand Herald – Court decision boosts CDO victim claims, by David Chaplin

20 September 2012 – Otago Daily Times – Investors support action, by Simon Hartley

19 June 2012 – Scoop.co.nz – Commerce Commission investigates Credit Sails

18 June 2012 – Business Day – Watchdog mulls Credit Sails action, by Tim Hunter

 28 April 2012 – Otago Daily Times – Credit Sails notes ‘virtually worthless’: commission, by Simon Hartley

24 April 2012 – Interest.co.nz – BusinessDesk: Commerce Commission investigation into failed Credit Sails product awaits feedback from participants

24 April 2012 – Business Day – Probe into Credit Sails nears end, by Tim Hunter 

24 April 2012 – MSN News NZ – Credit Sails probe awaits feedback

24 April 2012 – National Business Review – Credit Sails probe awaits feedback from participants

24 April 2012 – Commerce Commission – Update on Commerce Commission’s investigation into Credit Sails

20 March 2012 – Business Day – Bank sale ‘won’t stop legal action’, by Tim Hunter

2011

17 November 2011 – Chrislee.co.nz – Taking Stock Newsletter, by Chris Lee

7 November 2011 – Business Day Blogs – The Bottom Line, Bankers in the gun, but no NZ bullets, by Tim Hunter

30 May 2011 – Business Day, It’s about the customer, stupid, by Tim Hunter

18 May, 2011 – Business Day, A $92 million accident or was it?, by Tim Hunter

14 April, 2011 – Otago Daily Times, Securities Commission inquiry into collapsed Credit Sails promotion, by Simon Heartley

13 April, 2011 – TVNZ, Now worthless Credit Sails notes probed

12 April, 2011 – NZ Herald, Commission launches ‘Credit Sails probe’

12 April, 2011 – Business Day, Credit Sails probe confirmed, by Tim Hunter

31 March, 2011 – Chrislee.co.nz – Newsletter, by Chris Lee

26 March, 2011 – Scoop.co.nz, Logic assists investor in recovering Credit Sails

25 March, 2011 – Business Day, Credit Sails fallout continues, by Tim Hunter

2010

12 December, 2010, Samoa Observer, Church unaware of probe, by Charlina Tone

10 December, 2010, interest.co.nz, Commerce Commission investigating ‘alleged misleading representations’ on credit Sails ‘characteristics and risk’, by Gareth Vaughan

9 December, 2010, Samoa Observer, Church in Credit Sails investigation

9 December, 2010, Otago Daily Times, Probe of broker’s role investigated, by Simon Hartley

9 December, 2010, Radio New Zealand, Forsyth Barr Role Investigated

8 December, 2010, Scoop.co.nz, Forsyth Barr in Regulators Sights over sales of Credit Sails, by Paul McBeth

8 December, 2010, NZnewsUK.co.uk, Forsyth Barr in Regulators Sights over sales of Credit Sails, by Paul McBeth

8 December, 2010, CreditFlux, New Zealand regulator probes broker over CSO sale, report newspapers

8 December, 2010, TVNZ.co.nz, Regulator probes Forsyth Barr over deal

8 December 2010, NZ Herald, Commerce Commission probe into ‘Credit Sails’ bond sales, by Gareth Vaughan

7 December, 2010, Interest.co.nz, Commerce Commission investigating ‘alleged misleading representations’ on Credit Sails ‘characteristics and risk’, by Gareth Vaughan

6 December, 2010, allvoices.org, Commerce Commission probe into ‘Credit Sails’ bond sales

1 November, 2010, Business Day – Conflicted Interests, by Tim Hunter

6 September 2010, Business Day – Inquiry launched into Credit Sails Product, by Tim Hunter

2 August, 2010, Business Day – Credit Sails trustee probes potential breaches, by Tim Hunter

15 July, 2010, Business Day – An interview with Neil Pavouir-Smith, by Tim Hunter

6 July, 2010, Business Day – Credit Sailors should call in the commission, by Tim Hunter

3 July, 2010, New Zealand Herald,  Finance companies not the only losers, Brent Sheather

12 June, 2010, Business Day – Fund manager wants probe by watchdog, by Tim Hunter

25 April, 2010 Sunday Star Times, The funds, the French, and the missing $91m, by Tim Hunter

24 February, 2010, New Zealand Herald, Non-reporting of top-ups regrettable, says Brash, by Fran O’Sullivan

2009

5 September, 2009, Milford Asset Management, NZ should take heed of Iceland’s mistakes, by Brian Gaynor

14 August, 2009, Business Day, Investors pain behind Credit Sail’s Fall, by Gareth Vaughan

6 June, 2009, Business Day, Investors didn’t know money could sail away, by Brian Gaynor

28 May, 2009, National Business Review, ING’s hopes restore faith with rejigged offer to frozen fund investors, by Fiona Robertson

15 May, 2009, Business Day, Orphan’s, churches burnt by Credit Sails, by Gareth Vaughan

14 May, 2009, New Zealand Herald,  Investors face long wait for little return,  by Tamsyn Parker

13 May, 2009, Business Day,Kiwi money sails away, by David Hargreaves

13 May, 2009, National Business Review, Credit Sails investors will get just 1% of original outlay, by Sarah McDonald

12 May, 2009, NZX, Credit Sail Limited – Public Announcement

20, January, 2009, Interest.co.nz; Credit crunch and Icelandic debacle cost NZ investors NZ$65mln, by Alex Tarrant

14 January, 2009, The Christchurch Press, Fifth default is costly; CREDIT SAIL,  by Van Den Bergh Roeland

12 January, 2009, National Business Review, Credit Sails investors hit with 70% loss investment, by Sarah McDonald

2008

12 December, 2008, New Zealand Herald, The sad duty of watching ING’s CDO funds, by David Chaplin

14 October, 2008, National Businesss Review, Iceland banking troubles hit kiwi credit sail investors, by Sarah McDonald

10 October, 2008, National Business Review, Loan investments running aground, by Fiona Robertson

3 October 2008, National Business Review, Credit Sails’ CDOs miss latest payment to investors, by Sarah McDonald

Dunedin Charities News Clippings

Advertisements
No comments yet

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: