Hanover Group proposes to repay investors’ money

Finance houses are starting to return money to investors under five year plans

The largest of New Zealand’s troubled finance companies, the Hanover Group, which defaulted on payments to 17,630 investors in July owing note holders NZ$553.5mn (£197.18mn), has proposed a rescue package that will see all 16,375 secured investors repaid their money in full over five years.