Mark Hotchin Net Worth is
Mark Hotchin Bio/Wiki, Net Worth, Married 2018Mark Stephen Hotchin (born 25 December 1958) is a New Zealand property developer and financier. He was a director of the Hanover Group which owned a number of finance companies including Hanover Finance, United Finance, Nationwide Finance and FAI Finance. The Hanover Group also had interests in property and was responsible for developing Matarangi Beach Estates and golf course, and acquired completed lots at the Jacks Point property sub-division in Queenstown. The Group also had property and finance interests in Australia.With Eric Watson he bought 30 per cent of Elders Finance in 1999 and in December that year bought it outright. Elders Finance became the core of what would become Hanover Finance. Two years on, their other finance and investment assets (Nationwide Finance, Leasing Solutions, Elders Home Loans and Hanover Securities) were rolled in to create Hanover Group with reported assets of $650m.As with many countries participating in the global market, New Zealand experienced the flow-on effect of the financial collapse of large international finance companies including Fannie Mae, Freddie Mac, Lehman Brothers, Merrill Lynch and ING. Furthermore the nervous reaction of investors in the wake of these larger collapses created further tension and a lowering of overall confidence in the market. As at May 2010, approximately 50 finance companies in New Zealand were marked as failed.Different from many other finance companies Hanover Finance, United Finance and Hanover Capital applied to the trustee for a repayment freeze or moratorium rather than a receivership. FAI Finance continued to trade and was wound up in 2010.After the repayment freeze Hanover prepared a debt repayment plan, offering to repay investors over a 5 year period. As part of the plan, Hotchin and Watson pledged $96 million of assets. These assets fell in value as property prices declined.
|Date Of Birth||1958-12-25|