Vending machine group VTL Group Ltd, which owed the investors of already collapsed Nathans Finance NZ$171 million, has announced to the stock exchange that all its directors had resigned and VTL had called in Colin McLoy of PricewaterhouseCoopers as receiver. "The directors continue to believe that Remote Technology Systems LLC, Shop24 and the vending franchise programme have value and hope that the restructuring programme will continue for the benefit of the stakeholders," the directors said. * This article was first published exclusively 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.
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