Grant Thornton has been ordered to pay Allan Hubbard's widow $37,500 for delaying a High Court hearing.
Aorangi Securities statutory managers Richard Simpson, Trevor Thornton and Graeme McGlinn, of Grant Thornton, are locked in a legal battle with 83-year-old Jean Hubbard – the widow of deceased Timaru financier Allan Hubbard – over the ownership of about $60 million of assets.
The hearing scheduled for October was adjourned within two weeks of the start date because the statutory managers rediscovered 72 boxes of documents "and some ring binders", which they had initially uplifted in mid-2010.
In his November 7 minute, given to NBR ONLINE today, Justice Lester Chisholm says the adjournment should not have occurred and it does not reflect well on the statutory managers.
"Obviously, the statutory managers should have realised that relevant documents were held by them long before this actually dawned on them, and their conduct could be categorised as careless."
However, the judge says the management is extremely difficult and involves a huge number of documents.
The hearing will now be held in May.
This article is tagged with the following keywords. Find out more about MyNBR Tags
Most listened to
- Tim Hunter on why Veritas is doing it the hard way
- Matthew Hooton on whether Steven Joyce will be the next national leader
- Rodney Hide on why all city planners should be fired
- Nevil Gibson discusses his latest Editor's Insight on films
- The NBR crew throw around some of the week's top stories
- Rob Hosking breaks down the political and economic week that was
- "A tragedy" - David Farrar on his disappointment with Simon Bridges
- New F&P product pipeline exciting, says Macquarie senior investment adviser Brad Gordon
- Taupo Motorsport Park executive director Tony Walker on the park's rebranding
- NZIER senior economist Christina Leung on why she does not think the OCR will hit 2%
- NBR's Cameron Officer talks about the NBR Car of the Year 2015
- John Barnett on Brewer: ‘Boy, has he got a bit to learn’