90 seconds at 9am: GPG the mystery bidder for Hanover; Grant Samuel report 'fair'

Bernard Hickey details the key news overnight in 90 seconds at 9am in association with ASB, including news that Guinness Peat Group is the mystery bidder for Hanover Finance, the BusinessDay has reported.

But Hanover Finance Chairman David Henry says no alternative offer is likely and won't confirm who the potential rival bidder is.

Meanwhile Allied Farmers has said the independent report from Grant Samuel will say the Allied bid for Hanover Finance is fair, better than the moratorium and a better bid is unlikely, the NZHerald reported.

Meanwhile in Wellington the Inland Revenue Department has won its first court case against a property investor renting a property off her own LAQC and claiming tax losses, the Dominion Post reported. A court ruled it was tax evasion.

Meanwhile, also in Wellington, National MP and deputy speaker Lindsay Tisch has been living in his own apartment and claiming NZ$21,000 in expenses from the government for living away from home, which works out at an 8% return on his NZ$260,000 investment, the NZHerald reported.

Category:

News & Politics

Tags:

• Bernard Hickey
• Guiness Peat Group
• Hanover Finance
• Allied Farmers