Auckland High Court will now hear RBNZ's application to liquidate CBL Insurance at end of July

Wed, 06 Jun 2018

By Rebecca Howard June 6 (BusinessDesk) - The Auckland High has set aside three days beginning July 30 to hear the Reserve Bank’s application to liquidate CBL Insurance, currently in interim liquidation, the central bank said in a release. The High Court ordered CBL Insurance be placed into interim liquidation on an application by the Reserve Bank as the insurer's prudential supervisor, in late February. The central bank alleged that CBL Insurance breached solvency margins and statutory directions. CBL Insurance is a unit of NZX-listed co...

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