Aorangi stoush with Jean Hubbard key to size of return to investors, managers say

Sun, 03 Feb 2013

Feb. 4 (BusinessDesk) – A Timaru High Court hearing set for May on whether Aorangi Securities or the Hubbards own $60 million of disputed assets is key to whether investors in the failed group get most of their money back or only a third of the funds, the statutory managers say. The Aorangi investors have so far received 15 cents in the dollar, or $14.5 million of the $96 million owed. If the High Court rules the ‘introduced assets’ belong to Aorangi, the investors could get “almost all of their investment capital back." If Jean Hubbard win...

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