Company collapse toll hits $1b

By NICK CHURCHOUSE and VERNON SMALL – The Dominion Post | Friday, 31 August 2007Five Star Consumer Finance announced it was going into receivership yesterday, its directors saying it could no longer operate because of a lack of new investors and difficulty retaining existing investors.

The Auckland firm, owned by Antares Finance Holdings, is the seventh finance company to fail in 16 months.

The failures have investors fearing for their cash. Investment companies have called on Commerce Minister Lianne Dalziel to introduce immediate measures to steady nerves.
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