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Law
3 mins to read

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.

Former CBL managing director Peter Harris

Maria Slade Thu, 18 Apr 2024
Key points
  • 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.
  • Key players: CBL, Peter Harris, Carden Mulholland, Financial Markets Authority, Serious Fraud Office.

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

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Key points
  • 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.
  • Key players: CBL, Peter Harris, Carden Mulholland, Financial Markets Authority, Serious Fraud Office.
CBL execs want regulator's case against them paused
Law,
103672
true