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Investor (82) battles Geneva over debentures

Geneva Finance is locked in a dispute over debenture stock allocations with one of its biggest shareholders.

John Green, 82, of Tauranga, claims he invested $311,679 in Geneva in December 2006 as debenture stock but the troubled finance company changed that to subordinated notes without his permission.

The change is important because subnote holders have had their investments progressively turned into shares, which have plummeted in value.

 

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