| Decision |
Consent granted |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 20 June 2023 |
| Pathway(s) | Significant business assets only |
| Investment | Receivable interests that relate to operating leases (and any related leased property) that are written by indirect wholly owned subsidiaries of Humm Group Limited. |
| Asset value | Exact amount uncertain but the value of the Assets will exceed $100,000,000. |
| Applicant |
Flexicommercial Limited |
| Vendors | Flexigroup NZ SPV2 Limited Australia (91.53%) USA (4.71%) NZ (3.68%) Various (0.31%) |
| Background |
Flexicommercial Limited (the Applicant) was granted consent to acquire the assets owned by Flexigroup NZ SPV2 Limited. This is an internal restructure of the entities owned by Humm. The Applicant is moving from a limited liability company structure to a more standardised New Zealand Trust structure. This restructure will eventually move all entities in Humm’s securitisation program into the trust structure. |
| More information |
Glenn Shewan |