Dorchester Pacific posts NZ$35 mln loss ahead of repayment plan vote

Property finance company Dorchester Pacific has reported a net loss of NZ$35 million for the six months ended September, due largely to completely writing off its stake in St Laurence and writedowns on its property loan book. Dorchester is in moratorium ahead of a December 17 vote on a proposal to repay 100% of capital within 3 years. Full details of the result are available here. * This article was first published yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.