Finance company FE Investments Limited goes into receivership

The New Zealand finance company FE Investments Limited (FEIL) has gone into receivership and all payments of principal and interest to deposit holders have been suspended.

A screenshot of the FE Investments Limited website today.

A screenshot of the FE Investments Limited website today.
Photo: RNZ

FE Investments is a relatively small non-bank deposit taking finance company with $54.3 million in retail investments.

The majority of the company’s 617 investors are individuals, rather than trusts and other entities. Eighty-four percent of its investors are based in New Zealand.

The company made the announcement on its website this afternoon.

“The Receivers will shortly write to all known deposit holders advising them of the receivership and the likely next steps. Further communication with deposit holders will likely be in May 2020, when the Receivers will provide further information about FEI and the receivership,” the announcement said.

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