Defending a lawsuit in Western Australia, Fletcher Building subsidiary says someone else made some of its Pro-fit pipes.
Court filing names New Zealand company Mars Cap in application for financial records in New York after collapsed of alleged $1.8b ponzi scheme.
Auckland businessman says settlement is about ‘cutting our losses’, while Police say they don’t intend to use the Act ‘routinely’ for health and safety infringements.
Lawyer representing investor group has previously threatened to sue NBR on behalf of Du Val.
UPDATE: The imminent arrival of cash from the redemption of Arria NLG bonds persuades the High Court to grant reprieve.
Roger Partridge says court is blurring the line between its role and Parliament’s role of making laws.
Seen as a test case, the police had frozen the assets and bank accounts of a family-owned business for being ‘fundamentally non-compliant’ with health and safety, an action normally reserved for gangs and drug dealers.
Significant implications for directors, particularly if creditors are well-funded or ‘determined’, lawyer says.
Meanwhile, the family trust of Kenyon and Charlotte Clark has also been put into receivership.
Regulator files civil court action after bank overcharged customers $3.9m over eight years.