CBL's Harris and Hutchison withdraw objection to liquidation

Mon, 13 May 2019

By Jenny Ruth May 13 (BusinessDesk) - CBL Corp directors Peter Harris and Alistair Hutchison say they didn’t oppose an action heard in the Auckland High Court today to liquidate the company. The firm's main operating subsidiary, CBL Insurance, was placed in liquidation last November with the Reserve Bank’s counsel, Nathan Gedye, QC, saying the prudential regulator had evidence of serious impropriety, chronic insolvency and failure to comply with the central bank’s directions. Then High Court judge, Justice Patricia Courtney, had ordere...

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