Another Kiwi finance firm collapses

Numeria Finance has collapsed owing investors about $6.4 million.

Numeria is a small finance firm with 480 debenture holders and assets valued at about $7 million.

It is an associated company of Capital + Merchant Finance, which was put into receivership about two weeks ago.

Perpetual Trust, which is the trustee of Numeria’s secured debenture stockholders, said Numeria’s difficulties were unrelated to the receivership of Capital + Merchant Finance.

Perpetual said insufficient cashflows put Numeria in breach of its Trust Deed.

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