Credit Suisse arrives down under to defend Feltex lawsuit

Global bank Credit Suisse will come under the spotlight in New Zealand in the coming weeks as civil action finally gets under way over the collapse of Feltex Carpets.

Feltex collapsed into receivership in 2006 – just 21 months after it floated on the stock exchange.

Former shareholder Eric Houghton, together with 3639 other investors who bought shares in Feltex in a public offering in 2004, are suing the former directors, promoters and sellers of shares in the company.

 

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