Hanover outcome leaves bitter taste

Published: 7:46PM Wednesday November 11, 2009 Source: Close Up

  • Print this article
  • Text size + -

There's no shortage of investors licking their wounds after doing their dough in finance company collapses.

But investors in Hanover thought they were home free. A deal with shareholders, Mark Hotchin and Eric Watson offered them all of their money back eventually in return for not putting the company under.

But now the investors have been told they won't get all their money back after all.

And what's grating with a lot of mum and dads is seeing their savings evaporate while Hotchin and Watson seem to live high on the hog - plush parties and flash houses have not gone down well with Ruth.

Hannah Ockleford caught up with the 77-year-old who invested $35,000 in Hanover.

 

  • Print this article
  • Text size + -
  • more...

Latest Close Up Video

Advertising

How do you want your news?

  • Mobile Devices

    TVNZ is available on mobile phones: Text TVNZ to 8869.

  • News Feeds

    See when TVNZ have added new content. You can get the latest headlines anywhere.

  • Podcasts

    Enjoy TVNZ on the move - a wide range of programmes and highlights are available.