Hanover Group is headed for receivership if Allied Farmers' proposed debt for equity swap cannot be completed, a report finds.

Hanover Finance, which is currently operating under moratorium, has recorded a $102 million loss.

Investors owed $42 million after the collapse of the Five Star Finance group of companies are looking at suing the directors.

In a sign the sports sponsorship recession could be over, the BNZ is set to be unveiled as the brand behind New Zealand's five Super 14 franchises.