Mark Hotchin's assets to remain frozen
Hanover Finance co-founder Mark Hotchin's assets will remain frozen but he will regain access to his general household belongings, the High Court has ruled.
Hanover Finance co-founder Mark Hotchin's assets will remain frozen but he will regain access to his general household belongings, the High Court has ruled.
In an interim decision, released today, Justice Helen Winkelman declined an application from Mr Hotchin to revoke or vary court orders freezing his assets - but made an amendment to release Mr Hotchin’s “general household belongings”.
Justice Winkelmann gave her decision to involved parties on Friday, but public release was suppressed until today. The decision followed a two day hearing on February on Mr Hotchin's application to regain control of his assets.
Mr Hotchin’s assets were frozen while his affairs, and those of failed Hanover Finance, are investigated by the Securities Commission and Serious (© Copyright Protected - The National Business Review 1)Fraud Office following the collapse $554 million collapse of Hanover in 2008. Over 16,000 investor lost money. Mr Hotchin now lives on the Gold Coast.
Mr Hotchin had previously wanted to take a $200,000 Mercedes Benz car and a $90,000 Porsche Cayenne car to Australia, but Justice Winkelmann rejected that application in December.
NBR staff
Tue, 10 May 2011
Tue, 10 May 2011
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Mark Hotchin's assets to remain frozen
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