Every organisation faces unique challenges throughout the business lifecycle. We understand the factors that govern growth and profitability and can tailor our...
We deliver full advisory service capability to navigate the array of opportunities, complex challenges and risks to help dynamic organisations achieve their...
-
Business valuations
We offer expert valuation advice in transactions, regulatory and administrative matters, and matters subject to dispute – valuing businesses, shares and intangible assets in a wide range of industries.
-
Capital markets
You need corporate finance specialists experienced in international capital markets on your side if you’re buying or selling financial securities.
-
Complex and international services
Our experience of multi-jurisdictional insolvencies coupled with our international reputation allows us to deliver the best possible outcome for all stakeholders.
-
Corporate insolvency
Our corporate investigation and recovery teams can help you manage insolvency situations and facilitate the best outcome.
-
Debt advisory
An optimal funding structure for your organisation presents unprecedented opportunities, but achieving this can be difficult without a trusted advisor.
-
Expert witness
Our expert witnesses analyse, interpret, summarise and present complex financial and business-related issues which are understandable and properly supported.
-
Financial models
A sound financial model will help you understand the impact of your decisions before you make them. Talk to us about our user-friendly models.
-
Forensic and investigation services
We provide investigative accounting and litigation support services for commercial, matrimonial, criminal, business valuation and insurance disputes.
-
Independent business review
Is your business viable? Will it remain viable in the future? A thorough independent business review can help your organisation answer these fundamental questions.
-
IT forensics
Effective ESI analysis is integral to the success of your business. Our IT forensics experts have the technical expertise to identify, preserve and interrogate electronic data.
-
Mergers and acquisitions
Grant Thornton provides strategic and execution support for mergers, acquisitions, sales and fundraising.
-
Raising finance
Raising finance - funders value partners who can deliver a robust financial model, a sound business strategy and rigorous planning. We can guide you through the challenges that these transactions can pose and help you build a foundation for long term success once the deal is done.
-
Relationship property services
Grant Thornton offers high quality independent advice on the many financial issues associated with relationship property from considering an individual financial issue to all aspects of a complex settlement.
-
Restructuring and turnaround
Grant Thornton’s restructuring and turnaround service capabilities include cash flow, liquidity management and forecasting; crisis and interim management; financial advisory services to companies and parties in transition and distress
-
Transaction advisory
Our depth of market knowledge will steer you through the transaction process. Grant Thornton’s dynamic teams offer range of financial, commercial and operational expertise.
Does your tax bill get the same attention as your cost of sales or salaries and wages? Tax rates might be fixed but the rules and the risks aren't.
-
Corporate tax
Grant Thornton can identify tax issues, risks and opportunities in your organisation and implement strategies to improve your bottom line.
-
Employment tax
Grant Thornton’s advisers can help you with PAYE (payroll tax), Kiwisaver, fringe benefits tax (FBT), student loans, global mobility services, international tax
-
Global mobility services
Our team can help expatriates and their employers deal with tax and employment matters both in New Zealand and overseas. With the correct planning advice, employee allowances and benefits may be structured to avoid double taxation and achieve tax savings.
-
GST
GST has the potential to become a minefield and can be expensive when it goes wrong. Our technical knowledge can help you minimise the negative impact of GST
-
International tax
International tax rules are undergoing their biggest change in a generation. Tax authorities around the world are increasingly vigilant, especially when it comes to global operations.
-
Research and Development
R&D tax incentives are often underused and misunderstood – is your business maximising opportunities for making claims?
-
Tax compliance
Our advisers help clients manage the critical issue of compliance across accountancy regulations, corporation law and tax. We also offer business and wealth advisory services, which means we can provide a seamless and tax-effective offering to our clients.
-
Transfer pricing
Tax authorities are demanding transparency in international arrangements. We businesses comply with regulations and use transfer pricing as a strategic planning tool.
Our experts have extensive experience in audit and assurance and produce outstanding work for leading New Zealand organisations in both the public and private...
-
Audit methodology
Our five step audit methodology offers a high quality service wherever you are in the world and includes planning, risk assessment, testing internal controls, substantive testing, and concluding and reporting
-
Audit technology
We apply our audit methodology with an integrated set of software tools known as the Voyager suite. Our technology has been developed to produce quality audits that are effective and efficient.
-
Financial reporting advisory
Our financial reporting advisers have the expertise to help you deal with the constantly evolving regulatory environment.
Consulting is a multi-disciplinary team, delivering a range of expertise including internal audit, risk management, IT advisory, project assurance, and...
-
Business architecture
Our business architects help businesses with disruptive conditions, business expansion and competitive challenges; the deployment of your strategy is critical to success.
-
Cloud services
Our team is led by cloud business experts who tailor services to the needs of your organisation, from strategy and implementation to ongoing services assurance.
-
Internal audit
Our internal audits deliver independent assurance over key controls within your riskiest processes, proving what works and what doesn’t and recommending improvements.
-
IT advisory
Our hands on product experience, extensive functional knowledge and industry insights help clients solve complex IT and technology issues
-
IT privacy and security
IT privacy and security should support your business strategy. Our pragmatic approach focuses on reducing cyber security risks specific to your organisation
-
Organisational & cultural change
The key to sustainable and future growth is a unified organisation operating within a strong cultural context, where transparency and communication are the priority for Kaimahi, and where visible leadership means walking the talk – but where does that journey begin?
-
Payroll assurance
Our specialist payroll assurance team can conduct a review of your payroll system configuration and processes, and then help you and your team to implement any necessary recalculations.
-
PCI DSS
Our information security specialists are approved Qualified Security Assessors (QSAs) that have been qualified by the PCI Security Standards Council to independently assess merchants and service providers.
-
Process improvement
As your organisation grows in size and complexity, processes that were once enabling often become cumbersome and inefficient. To maintain growth, your business must remain flexible, agile and profitable
-
Procurement/supply chain
Procurement and supply chain inputs will often dominate your balance sheet and constantly evolve for organisations to remain competitive and meet changing customer requirements
-
Project assurance
Major programmes and projects expose you to significant financial and reputational risk throughout their life cycle. Don’t let these risks become a reality.
-
Risk management
We understand that growing companies need to establish robust internal controls, and use information technology to effectively mitigate risk.
-
Robotic process automation (RPA)
RPA is emerging as the most sophisticated form of automation used to help businesses become more agile and remain competitive in the face of today’s ongoing digital disruption.
If you're a Chinese company aiming to invest or establish operations in New Zealand, or you’re a Kiwi business wanting to do business in China, our Asia...
Our unique offering to the financial services sector may be the catalyst you need to take your business forward, safely and prosperously.
We understand the core issues in the health and aged care sector, and the delicate balance between mission purpose, service delivery and standards, and...
At Grant Thornton we have an inherent understanding of traditional and digital media and entertainment businesses, and an ability to spot potential issues and...
Grant Thornton understands the commitment and scrutiny within the NFP sector we offer innovative solutions to help you develop new skills and open up sources...
Grant Thornton actively works with professional services firms, and their Partners and stakeholders to ask the hard questions, and deliver value added...
New Zealand is a favourite location for real estate investors. While Auckland is at the centre of investment and development opportunities, other areas of New...
Our dedicated public sector advisory works with all types of agencies, including central and local government, Crown Entities, State Owned Enterprises...
Sustainability and impact
Hubbard Management Fund’s (HMF) complexity still being unravelled
02 Oct 2012
The Hubbard Management Funds (HMF) statutory managers from Grant Thornton reported today in their 12th Report to investors that they are still implementing the High Court directive made in June on how to distribute funds to investors. There have been no further distributions in the meantime.
“We are required to review the records of each investor going back some 20 years to establish cash deposits and withdrawals and identify each investor’s net cash position. The Court’s directive is that the first step is for all investors to receive back the amounts originally invested,” said the Grant Thornton statutory managers.
“Each investor will be given the opportunity to review and confirm the accuracy of the data gathered and if they believe it to be incomplete they will need to provide the missing documentary evidence. When the position of each investor is finally determined, we will take the remainder of the assets and allocate them based on a formula which takes into account the time investors have been in the fund and the returns on the NZX across the periods involved. This is a time consuming process.”
More claims against the assets of Fund have come to light since the last Report. There are now claims of about $7 million against the portfolio value of around $47 million. The Statutory Managers are working through these.
“Mrs Hubbard and her family interests are contesting $4.3 million of the $7 million in dispute. Another claim made by ASB Bank for $2.1 million will be determined by the Court later this year.
A further complexity to reconcile is that the HMF accounts show an investment in Aorangi of $3.6 million but only $0.470 million is recorded in the Aorangi accounts. It appears that the HMF figure is overstated but the reconciliation will be subject to an independent review. If this is the case, it will reduce the value of the HMF portfolio.”
The statutory managers will be reporting next to investors at the end of January 2013.
Further enquiries, please contact:
Michael Dunlop
Acumen Republic
M +64 (0)275 747 587
D +64 (0)4 494 5142
E mdunlop@acumenrepublic.com
Julian Light
Acumen Republic
M +64 (0)21 243 8528
D +64 (0)4 494 5146
E jlight@acumenrepublic.com
Copy text of article