News | Local Politics
24 Feb 2020 10:38
NZCity News
NZCity CalculatorReturn to NZCity

  • Start Page
  • Personalise
  • Sport
  • Weather
  • Finance
  • Shopping
  • Jobs
  • Horoscopes
  • Lotto Results
  • Photo Gallery
  • Site Gallery
  • TVNow
  • Dating
  • SearchNZ
  • NZSearch
  • Crime.co.nz
  • RugbyLeague
  • Make Home
  • About NZCity
  • Contact NZCity
  • Your Privacy
  • Advertising
  • Login
  • Join for Free

  •   Home > News > Local Politics

    The Northland Regional Council could be facing a 820-thousand-dollar hole in its pocket

    The Northland Regional Council could be facing a 820-thousand-dollar hole in its pocket


    It loaned Resource Enterprises Limited the money in 2014 for a Marsden Point timber mill.

    But it's not traded since May 2017, its lease was cancelled last month, and its missed two quarterly interest payments.

    Council CEO Malcolm Nicolson says it was a decision made in the wake of the Global Financial Crisis.

    He says it was seen as a way to stimulate the Northland economy - but the council's since stopped loaning to private companies.

    The loan, now recorded as an impairment loss, is due to be paid in early March.

    © 2020 Newstalk ZB, NZCity


     Other Local Politics News
     23 Feb: One more step forward in the fight for justice for families of those lost in the 2011 Christchurch' quake
     22 Feb: An apology to some of the families impacted by the Christchurch earthquake is hoped to make a difference to those who feel they need it
     20 Feb: Wellington's mayor has signed up to supporting an inquiry into the capital's water problems
     19 Feb: Local councils need support in managing water
     14 Feb: A declaration of love in the Wellington City Council debating chamber, a day before Valentines Day
     09 Feb: Southland's mayor estimates up to 40 homes in his region have suffered flooding
     05 Feb: A tribute to a killed cyclist at Wellington City Council meeting around road safety
     Top Stories

    RUGBY RUGBY
    The Tall Blacks have thumped Guam 113-94 in Guam to make it two wins from two in their Asia Cup qualifying campaign More...


    BUSINESS BUSINESS
    Air New Zealand says the coronavirus outbreak will hit its bottom line -- to tune of up to 75 million dollars More...



     Today's News

    Entertainment:
    Ben Foden’s wife Jackie Belanoff Smith is pregnant with their first child 10:29

    Business:
    Air New Zealand says the coronavirus outbreak will hit its bottom line -- to tune of up to 75 million dollars 10:27

    Law and Order:
    Christchurch has a new gang in town 10:07

    Entertainment:
    Taraji P. Henson found her “life’s purpose” in talking about her “mental health” 9:59

    Boxing:
    Kiwi boxer Joseph Parker thinks it's unlikely he'll get a crack at the Gypsy King 9:57

    Entertainment:
    Ben Affleck “didn’t want to get divorced” from his ex-wife Jennifer Garner 9:29

    Entertainment:
    Matthew Perry’s pals want to see him marry Molly Hurwitz 8:59

    Entertainment:
    ‘The Mandalorian’ is getting its own range of merchandise 8:29

    Law and Order:
    Wellington police are on the lookout for a wanted man believed to be armed and dangerous 8:17

    Politics:
    A school principal wants retailers to bear more responsibility when it comes to vaping 8:07


     News Search






    Power Search


    © 2020 New Zealand City Ltd