Dorchester Pacific's finance unit takes $1M provision on Erceg loan

Dorchester Pacific, which is trying to exit its moratorium, said it will take an additional $1 million provision to recognise the shortfall in its security on a loan to Ivan Erceg, who was recently declared bankrupt.

“The position had already been incorporated in forecasts for the Capital Reconstruction Plan currently being put to Trustees prior to being sent to investors,” the finance company said in a statement.

Dorchester has repaid 42.5% of the amount owed under its deferred repayment plan for its finance unit.

Businesswire.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

GTK - Half-Year Results Announcement Date
Government ends war on farming
Sky and BBC Studios renew expanded, multi-year agreement
AOF - Q1 Improved Trading Performance & FY24 Guidance Maintained
Devon Funds Morning Note - 23 April 2024
April 23rd Morning Report
RYM - Group CEO Update
BGI - Director Michael Chai
RAD - Final Dividend and Strong FY24 Operating Performance
RYM - Group CEO Update