New Zealand Financial Markets Authority secures liquidation of six Chance Voight companies after High Court finds group insolvent

The New Zealand Financial Markets Authority said the High Court has placed six Chance Voight companies into liquidation after an FMA investigation found the Rangiora-based group was insolvent and operating an unsustainable business model. The court accepted that the group relied on new investor funds to meet existing obligations and could not pay its debts as they fell due. The FMA said it sought the liquidation to preserve investor funds as far as possible. The judgment covers Chance Voight’s parent company and five core subsidiaries, including the main entities that raised money from investors. The court found the group had raised about NZD54.2 million from the public by December 2025, promising returns linked to real estate and ASX-listed shares, but that its assets generated little material income. As at 30 September 2025, the group had a consolidated negative net asset position of NZD11.8 million and a consolidated loss of NZD5.5 million for the preceding six months. The court also found investor money was effectively pooled across the group, used to meet interest, redemptions and operating expenses, and that the companies had failed to maintain adequate accounting records and financial statements. One company that did not trade was wound up on just and equitable grounds because of a justified lack of confidence in its management. The FMA’s investigation into Chance Voight Investment Corporation Limited, its subsidiaries, and associated persons and entities remains ongoing.