2012 news releases

Update on Ross Asset Management (In Receivership) and Related Entities (In Receivership)

[17 December 2012]

PwC Partners John Fisk and David Bridgman as Receivers and Managers to Ross Asset Management Limited and related entities today made applications to the High Court in Wellington for their appointment as liquidators to a number of the Ross Group companies.

A PwC New Zealand senior analyst makes a huge impact on the World Financial Modelling stage

[4 December 2012]

PwC today celebrates as one of its own, Advisory Senior Analyst Alex Gordon, becomes the 2012 World Financial Modelling Champion in New York (USA).

Wellington-based Alex Gordon was one of 2,000 entries to the World Financial Modelling Championship. After three rounds, he was one of the world’s top-16 financial modelling minds to attend the New York live finals this past weekend. The competition was fierce and finalists came from all the corners of the globe – from New Zealand, Australia, the USA, Britain, Russia, Canada, Poland and Hungary.

Businesses must improve security strategies to stay ahead of the game

[30 November 2012]

In a world where cloud platforms, social networks and mobile devices are common place, the latest ‘Global State of Information Security® Survey 2013 released by PwC US in conjunction with CIO and CSO magazines, reveals there is a high degree of misplaced confidence in New Zealand businesses security strategies. Indeed, despite optimism, businesses must improve security strategies to stay ahead of the game.

Two new partners reinforce PwC’s focus in delivering unique client service

[27 November 2012]

PwC welcomes two new partners to its New Zealand firm effective 1 January 2013. This will bring the number of full equity partners to 111.

PwC appointed Receivers to Reef Group Limited (In Receivership) and other associated entities

[26 November 2012]

Colin McCloy and David Bridgman, Partners from PwC, today have been appointed Receivers to Reef Group Limited and other associated entities in Auckland.

Passing of power in China presents opportunity for NZ businesses

[19 November 2012]

Historic sweeping changes at the helm of China’s ruling communist party signals the beginning of a new era for the Chinese people and a once in a decade opportunity for New Zealand to consolidate its relationship with the emerging economic powerhouse.

Update on Ross Asset Management Limited (In Receivership) & related entities

[15 November 2012]

PwC Partners John Fisk and David Bridgman as Receivers and Managers to Ross Asset Management Limited and related entities, have provided a report to both the High Court in Wellington and the Financial Markets Authority (FMA).

PwC appointed Receivers & Managers to Ross Asset Management & 9 related entities

[6 November 2012]

Following application by the Financial Markets Authority today, the High Court has appointed PwC Partners John Fisk and David Bridgman as Receivers and Managers to Ross Asset Management Limited and nine other associated entities.

Weather, economy & stagnant demand prove challenging for electricity companies

[26 October 2012]

The electricity sector has changed markedly over the past few years, thanks to increased competition and significant changes to legislation. Yet, according to PwC’s Leading Energy publication, factors beyond the companies’ control continue to prove the most challenging of all – the weather and a sluggish economy causing demand to remain stagnant.

PwC welcomes the Government’s announcement on FATCA regulations

[25 October 2012]

Following on from today’s New Zealand Government announcement of its intentions to engage with the US Government on the Foreign Account Tax Compliant Act (FATCA) regulations, PwC confirms its support to ensure these possible new rules have a more controlled and minimal impact to the entire New Zealand financial services industry.

Landmark Australian GST Qantas case has implications for businesses

[2 October 2012]

Following years of legal arguments and court proceedings in the Qantas Airways Limited v. Commissioner of Taxation, Australia’s highest court - the High Court of Australia (HCA) has just ruled in relation to what happens to the GST component of a non-refundable pre-paid domestic airfare, when the passenger is a no show.

PwC acquires Asia-Pacific Risk Management

[17 September 2012]

PwC is pleased to announce it has acquired the business of Asia-Pacific Risk Management (APRM), the high profile and well respected Financial Risk and Treasury Advisory company led by Roger Kerr, Stuart Henderson and Brett Johanson.

APEC economies projected to nearly double during the next decade

[6 September 2012]

Economic disruption, including possible recession in the United States, the Eurozone crisis and the slowing of expansion in China have taken a toll on the confidence of CEOs in the Asia-Pacific region, according to PwC’s 2012 APEC CEO Survey.

PwC recognised as NZ's most reputable professional services organisation

[4 September 2012]

PwC is honoured to be named New Zealand’s Most Reputable Professional Services Organisation in a survey by the Hay Group/NZ Management Magazine. The accolade follows a survey of senior business leaders asking them to nominate the organisations they deem to be most reputable and why.

New Zealand’s five major banks hold steady

[31 August 2012]

New Zealand’s five major banks (ANZ National, ASB, Bank of New Zealand, Kiwibank and Westpac) held steady in the first six months of their 2012 financial years, reporting just over half a percent decrease in pre-tax profits compared with the previous six months.

Fashion designers help PwC staff bring brand alive

[15 August 2012]

A brand is more than a logo, it’s about people and that’s why PwC people are at the heart of the firm’s Brand week.

Hundreds of PwC staff will hear from Kiwi fashion designers Murray Crane and Kate Sylvester, ASB Bank CEO Barbara Chapman, social media guru Simon Young of SyENGAGE and communications expert Penny Harrison.

Update regarding Growestcoast Limited (In Receivership)

[3 August 2012]

PwC Partners, Malcolm Hollis and Maurice Noone, Receivers of Growestcoast Limited (In Receivership), today announced they have reached agreement for the sale of the assets of the company situated in Rotomanu.

Update on the Department of Labour prosecution of Pike River Coal

[31 July 2012]

PwC Partners John Fisk, David Bridgman and Malcolm Hollis, Receivers of Pike River Coal Limited (In Receivership) (PRCL) have advised the District Court in Greymouth that no plea will be entered on behalf of PRCL in response to the charges brought against it by the Department of Labour. PRCL will take no further steps in relation to those charges.

The digital dilemma casting a long shadow over the Entertainment and Media industry

[31 July 2012]

New Zealand’s entertainment and media market is now showing signs it’s beginning to embrace the new ways New Zealanders wish to consume entertainment and media content. That’s the sentiment revealed in the second edition of PwC New Zealand’s entertainment and media outlook publication.

Update regarding Bridgecorp Limited

[27 July 2012]

The Receivers of Bridgecorp Limited (In Receivership & In Liquidation) today are pleased to announce a second interim dividend to Bridgecorp's secured investors of $20.6m (4.5 cents in the dollar).

Retailers need to be innovative to capture shoppers’ cash

[25 July 2012]

PwC New Zealand is pleased to share with you the Australian and New Zealand Online Shopping survey. This is the second year PwC has teamed with Frost & Sullivan to produce one of the most comprehensive online research reports across Australasia.

Update regarding the sale of the Pike River Coal Mine

[17 July 2012]

PwC Partners John Fisk, David Bridgman and Malcolm Hollis, Receivers of Pike River Coal Limited (In Receivership) today confirmed the completion of the sale of the Pike River Coal Mine and related assets to Solid Energy.

Five PwC athletes in the London Olympic and Paralympic Games

[17 July 2012]

Five PwC people are getting ready to compete in the world’s biggest sporting event, and one of them is from our own PwC New Zealand office.

The PwC network is home to three people who have qualified for the London Olympic Games and two people who will represent their country at the London Paralympic Games.

PwC calls for action on water

[16 July 2012]

New Zealand’s water and wastewater supplies will be in the spotlight when local government leaders will be asked on Monday to consider how our country’s water resource can be better managed and regulated at this year’s Local Government New Zealand Conference.

PwC New Zealand welcomes its new Chairman

[29 June 2012]

From Monday, PwC will have a new Chairman at its helm to take over from retiring Chairman John Shewan.

Partner Jonathan Freeman has been elected the new Chairman of PwC New Zealand by the firm’s Partnership team.

Two new Partners for greater client service and delivery focus

[28 June 2012]

PwC welcomes two new Partners to its New Zealand firm from 1 July 2012. This brings the number of full equity Partners to 108 and the total number of new Partners admitted since the start of the year to five.

PwC’s Chief Executive Officer Bruce Hassall says he’s committed to continuing to grow the New Zealand firm to better service the needs of PwC’s clients.

Liquidators of SCF appointed

[8 June 2012]

John Fisk and David Bridgman, of PwC, have been appointed Liquidators to eight companies within the South Canterbury Finance Group during the afternoon of 7 June 2012. The appointments were made by shareholder special resolutions following approval of the Liquidators’ appointment from the High Court in Wellington.

The liquidations are the final step in the insolvency process of the Group following the sale of the remaining non-cash assets to Crown Asset Management Limited on 1 June 2012.

Businesses need to prepare for GST on late payment fees

[7 June 2012]

Businesses need to start preparing today for tomorrow on late payment fees being subject to GST.

The Finance and Expenditure Committee has reported back on the Taxation (Annual Rates, Returns filing, and Remedial Matters) Bill. It recommends making amendments to the GST treatment of fees for the late payment of an account (late fees), meaning late fees will be subject to GST.

High octane tax take, highly dependent on growth

[24 May 2012]

The forecast turnaround in the state of the nation’s accounts is highly dependent on bullish growth forecasts between now and 2016 say PwC. The other major contributor is rigorous control over crown spending.

Update regarding the sale of the Pike River coal mine

[10 May 2012]

PwC Partners John Fisk, David Bridgman and Malcolm Hollis, Receivers of Pike River Coal Limited (In Receivership) today announced Solid Energy New Zealand Limited has completed its due diligence and has signed a sale and purchase agreement for the Pike River Coal Mine.

Admission of new partner Scott Mitchell

[18 April 2012]

PwC welcomes the admission of Scott Mitchell as a Consulting Partner, based in the Auckland office of the New Zealand firm. Scott’s appointment as a lateral recruit partner shows the firm’s commitment to cement its leading role in this sector.

Update on Computer Power (NZ) Limited (In Liquidation)

[2 April 2012]

John Fisk and Jeremy Morley, of PwC, as the Liquidators of Computer Power (NZ) Limited (In Liquidation) are pleased to announce an agreement has been reached that will enable a way forward for the staff and students of Computer Power.

China: Changing New Zealand forever

[2 April 2012]

China is now the world’s second largest economy, having overtaken Japan in 2010, and it is estimated China’s economic output will match the United States by 2027.

As revealed in PwC’s China: Changing New Zealand forever publication, considering New Zealand relies for its wealth creation and standard of living on its exports and trade with the rest of the world, China is an opportunity for growth New Zealand businesses cannot afford to ignore.

New partner cements PwC's commitment to Christchurch

[30 March 2012]

PwC welcomes the admission of Wayne Munn as a Corporate Finance Partner in the firm’s Christchurch practice. Wayne’s appointment as a lateral recruit partner shows PwC’s commitment to play a leading role in the rebuild of Christchurch and Canterbury.

Update on Computer Power (NZ) Limited (In Liquidation)

[30 March 2012]

John Fisk and Jeremy Morley, of PwC, as the Liquidators of Computer Power (NZ) Limited (In Liquidation) today provided an update on the progress of the Liquidation.

Update on Computer Power (NZ) Limited (In Liquidation)

[23 March 2012]

John Fisk and Jeremy Morley of PwC, Liquidators of Computer Power (NZ) Limited (In Liquidation), today provided an update on the progress of the Liquidation following on discussions with relevant stakeholders and interest parties.

Talent - a potential game changer for Chinese companies

[16 March 2012]

Talent could prove to be a potential game changer to the growth prospects of Chinese companies. This is according to PwC’s 15th Annual Global CEO Survey that explores Chinese CEOs' focus on developing talent and boosting innovation in their bid to capitalise on the Chinese economy's still-promising growth outlook and burgeoning domestic consumption.

Update regarding the sale of the Pike River coal mine

[9 March 2012]

PwC Partners John Fisk, David Bridgman and Malcolm Hollis, Receivers of Pike River Coal Limited (In Receivership) today announced they have reached agreement with Solid Energy New Zealand Limited for the sale of the assets of Pike River Coal Limited (In Receivership). The agreement is conditional upon due diligence by 30 March 2012, together with other conditions, with settlement expected in May or later depending on approvals being obtained.

Long-awaited draft FATCA regulations now issued

[10 February 2012]

New rules targeting US tax evaders are expected to significantly affect the entire New Zealand financial services industry.

New Zealand banks go from strength to strength despite global market uncertainties

[10 February 2012]

New Zealand’s five major banks (ANZ National, ASB, Bank of New Zealand, Kiwibank and Westpac) have revealed core earnings growth of 25% in the second half of their 2011 financial years (2H11) when compared to the previous six months (1H11).

PwC welcomes the Government's "NZ Inc China Strategy" launch

[3 February 2012]

Following on from today’s Government announcement of its NZ Inc China Strategy, PwC confirms its support for the policy directions and partnership objectives.

PwC Partner and China sector spokesperson Colum Rice believes China will be an important source of funding for New Zealand business and infrastructure.

Update on Zion Wildlife Gardens Limited

[31 January 2012]

PwC Partners Colin McCloy and David Bridgman, Receivers of Zion Wildlife Gardens Limited (In Receivership & In Liquidation) in Kamo, Northland, today have confirmed the sale of the business and assets of Zion.

Threat of recession is the greatest risk to global banks

[31 January 2012]

The fragility of the world economy with the possibility of a return to recession poses the greatest risk to the banking industry, according to a global survey by PwC and the Centre for the Study of Financial Information (CSFI) in Banking Banana Skins 2012. This survey describes the risks currently facing the global banking industry, as seen by a wide range of bankers, banking regulators and close observers of the banking scene around the world.

Update on Zion Wildlife Gardens Ltd (In Receivership & In Liquidation)

[27 January 2012]

PwC Partners Colin McCloy and David Bridgman, Receivers of Zion Wildlife Gardens Limited (In Receivership & In Liquidation) in Kamo, Northland, today have confirmed the progress of the sale of the business and assets of Zion.

Zion Wildlife Gardens Ltd (In Receivership & In Liquidation)

[17 January 2012]

The Receivers of Zion Wildlife Gardens Ltd (In Receivership & In Liquidation) confirm an application has been made to the High Court in Auckland.

Receiver and PwC Partner Mr Colin McCloy says “the Court application is intended to support the sale of the Zion Wildlife Park, as a going concern with the existing animals remaining in the Park.