Tuesday 5th April 2016 |
Text too small? |
Mercer Group, the stainless steel fabricator, has settled an insurance claim with AIG over damage to a property in the Christchurch earthquakes in 2010 and 2011.
AIG is to pay $2.7 million plus GST to Mercer to conclude the claim over the building on Lunns Road in Christchurch.
Mercer's directors were forced to add a note to its recent accounts stating a "material uncertainty" over the company's ability to continue as a going concern if its lenders were not willing to provide the necessary debt facilities and it was unable to secure funding elsewhere. It posted a loss of $4.6 million for the last six months of 2015 compared to a loss of $101,000 in the same period a year earlier and owes $21 million in total.
The shares rose by 3.5 percent to 3 cents and have tumbled 81% in the past year.
(BusinessDesk)
BusinessDesk.co.nz
No comments yet
Serko signs five-year partnership renewal with Booking.com
NPH - 2024 Half Year Results Announcement Date
CANGO Press Release | Pharmac Funding
April 30th Morning Report
Spark Finance extends standby facility
AIA - Auckland Airport considers retail bond offer
VGL - 2024 Shaw & Partners Tech Conference Presentation
April 29th Morning Report
EBOS announces appointment of new Chief Financial Officer
AM Best affirms Tower Limited's A- (Excellent) FSR