CBL execs want regulator's case against them paused
Former MD Peter Harris and CFO Carden Mulholland say the FMA's claims of market disclosure failures should be put on ice pending a criminal appeal decision.
What's at stake: The former MD and CFO of failed insurer CBL want a Financial Markets Authority case against them put on hold.
Background: The FMA's civil case is set to start in June, and the execs want a stay of those proceedings until the Court of Appeal decides whether not guilty verdicts in the criminal case against them can be appealed.
Former executives of failed insurer CBL want a Financial Markets Authority case against them put on hold until it is decided whether a criminal case they faced can be appealed.
The NZX-listed insurance group collapsed in early 2018, wiping out $747m in value when its shares were halted from
Want to read more? It's easy.
Choose your best value subscription option
Student
Exclusive offer for uni students studying at a New Zealand university (valued at $499).
What's at stake: The former MD and CFO of failed insurer CBL want a Financial Markets Authority case against them put on hold.
Background: The FMA's civil case is set to start in June, and the execs want a stay of those proceedings until the Court of Appeal decides whether not guilty verdicts in the criminal case against them can be appealed.
