Did CBL chairman know about $42m Alpha transfer?
Payment in breach of Reserve Bank order triggered interim liquidation.
Hot Topic
NBR Focus: The Accountants 2024
A $42 million overseas transfer that triggered the interim liquidation of CBL Insurance may have been made without the knowledge of the CBL board.
The huge payment was made in February to Danish company Alpha Insurance in contravention of explicit orders from the Reserve Bank.
In an affidavit
Want to read more? It's easy.
Choose your best value subscription option
Individual
Group membership
NBR Marketplace
NZ Aviation News
Yearly Premium Online Subscription
NZ$499.00 / yearly
Monthly Premium Online Subscription
NZ$44.95 / monthly
Smartphone Only Subscription
NZ$24.95 / monthly
Premium Group Membership 10 Users
NZ$350+GST / monthly
$35 per user - Pay by monthly credit card debitPremium Group Membership 20 Users
NZ$600+GST / monthly
$30 per user - Pay by monthly credit card debitPremium Group Membership 50 Users
NZ$1250+GST / monthly
$25 per user - Pay by monthly credit card debitPremium Group Membership 100 Users
NZ$1875+GST / monthly
$18.75 per user - Pay by monthly credit card debitYearly Premium Online Subscription + NBR Marketplace
NZ$499.00 / yearly
Aviation News - Monthly
NZ$14.95 / monthly
Already have an account? Login
Tim Hunter
Fri, 06 Apr 2018
Fri, 06 Apr 2018
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Did CBL chairman know about $42m Alpha transfer?
74340