Appeal court lifts veil on FMA action to recover $25M in Pyne Gould related-party loans

Thu, 05 Jul 2012

By Paul McBeth July 05 (BusinessDesk) - The Court of Appeal has turned down a bid by Pyne Gould Corp to keep details of an investigation into related-party loans to George Kerr's Torchlight fund under wraps. In a judgment delivered yesterday, Judges Susan Glazebrook, Ellen France and Lynton Stevens dismissed an appeal by Pyne Gould subsidiary Perpetual Trust to keep in place a confidentiality order over proceedings. The decision upheld a ruling by Judge Paul Heath in the High Court in Auckland on June 26 which discharged the confidentiality...

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