In August the Herald reported SolarZero, which was sold to US private equity giant BlackRock, said it had “pioneered a new financing model” to expand its debt funding to $195 million.

Its chief financial officer James Allard said French bank Societe Generale provided $130m of the $195m, and Crown-backed NZ Green Investment Fund (NZGIF) – a ‘green investment bank’ that lends money to environmentally-friendly firms – provided the balance under its Solar Finance programme.

The NZGIF told the Herald it had been informed of the voluntary liquidation on Tuesday.

“NZGIF provided lending to enable the installation of solar panels and battery systems by SolarZero,” a spokesperson said.

“NZGIF is…

The company provided manpower and related services for Amazon Device Projects based on purchase orders issued between October 2022 and May 2023. Subsequently, invoices amounting to ₹3.69 crore were raised from March 2023 to May 2023, and payment approval was requested.

It contended that though Amazon Wholesale confirmed that two invoices were approved but delayed due to settlement issues. Multiplier argued that Amazon later requested additional data, since there were allegations of fake submissions by the company concerning other Amazon projects under investigation. It further contended that Amazon Wholesale withheld payments, citing the need to complete internal reviews.

Owing to this, Multiplier issued a demand notice to Amazon…

Dairy workers at South Australia’s Beston Global Food company have learnt they will lose their jobs after the company’s administrator, KPMG, was unable to find a buyer.

The 159 workers and 22 dairy farmers have been in limbo since the company went into voluntary administration on September 20.

Milk production will end on December 6 and the infrastructure at Jervois and Murray Bridge will be auctioned off.

KPMG tried to sell the business as an ongoing concern and several companies expressed interest.

However, in a statement a KMPG spokesperson said due to significant trading losses being incurred on a weekly basis the administrators were not…

Press Release – SolarZero

SolarZeros customers will not be affected by todays announcement. Ahead of the liquidation, the senior lenders appointed Verofi as the replacement service provider to ensure energy services to customers across the country were uninterrupted.

Today, Tuesday 26 November, 2024 the directors of SolarZero Limited (in liquidation) have requested its senior lenders take enforcement action and appoint the standby servicer, Verofi, as replacement servicer, and that its shareholder appoint a liquidator.

SolarZero’s customers will not be affected by today’s announcement.

Ahead of the liquidation, the senior lenders appointed Verofi as the replacement service provider to ensure energy services to customers…

Mexico’s finance ministry is preparing to enlist a consortium of banks to provide financing that Petroleos Mexicanos would use to pay off debt with service providers, according to a recording of remarks made by its CEO. 

The state-owned oil company is coordinating with the finance ministry, which would potentially take on debt on its behalf to pay the service contractors, Chief Executive Officer Victor Rodriguez said at a private event on Friday hosted by Mexico’s College of Petroleum Engineers.

“We are being supported by the finance ministry,” Rodriguez said in a video recording obtained by Bloomberg. “We have a debt ceiling that we cannot use because it would be very expensive. So who is going to do it for us? The…

(Bloomberg) — India has started an investigation into financing and accounting practices at Byju’s, according to people with knowledge of the matter, after a previous inspection found corporate governance lapses at the struggling online tutoring firm.

The federal government has asked the regional office of the Registrar of Companies in Hyderabad to investigate Byju’s books to ascertain if the company misreported financial statements and whether funds were siphoned off, the people said, asking not to be identified as the matter is private.

There were shortcomings in the accounts of Byju’s, the people said, explaining the reason for the new probe. They didn’t specify what those failings were. The registrar’s office has one year…

It’s just before lunchtime, and the dairy next to the Maketū Pies factory is bustling.

Some clutch paper packets containing flaky, golden pastry wrapped around a piping-hot filling.

Maketū Pies has been a fixture of the tiny coastal Bay of Plenty town since 1982 and is considered a major employer, but its future is in jeopardy again.

The business that owns the brand, Maketū Foods Ltd, was placed into voluntary solvent liquidation last week.

Residents of Maketū — population 1311 in the 2023 Census — worry the brand will be lost and dozens of pie-makers will be out of a job.

It’s not the first time the town has faced the possibility.

They hope a buyer will save the day, as happened when Te Arawa Management Ltd bought the national…