What's at stake: The Financial Markets Authority is refusing to comment on speculation it is about to recommend another statutory management.
Background: Statutory management is a rarely invoked power reserved for cases where the ordinary law is inadequate to deal with an orderly wind up of the companies.
Key players: FMA, FMA executive director of response and enforcement Louise Unger, Commerce and Consumer Affairs Minister Scott Simpson, Du Val, PwC.
The Financial Markets Authority is refusing to comment on speculation it is about to recommend another entity be placed in statutory management.
The rarely used mechanism was invoked for the first time in 14 years last year for failed property developer Du Val.
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Key points
What's at stake: The Financial Markets Authority is refusing to comment on speculation it is about to recommend another statutory management.
Background: Statutory management is a rarely invoked power reserved for cases where the ordinary law is inadequate to deal with an orderly wind up of the companies.
Key players: FMA, FMA executive director of response and enforcement Louise Unger, Commerce and Consumer Affairs Minister Scott Simpson, Du Val, PwC.
