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RBNZ directions ruled invalid in CBL decision

Judgment in fraud trial dismisses fundamental basis for SFO prosecution.

The RBNZ was not sure CBL was failing so it had no grounds under the law to issue the directions, said the judge.

Tim Hunter Tue, 26 Sep 2023

After delivering not guilty verdicts in the fraud trial of CBL’s Peter Harris and Carden Mulholland at a brief High Court session on Thursday, Justice Michael Robinson has followed up with a 172-page judgment explaining his reasons.

The eight charges laid against Harris, the insurer’s former

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RBNZ directions ruled invalid in CBL decision
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