Claim against Perpetual Trust over Capital + Merchant cleared as court appoints new trustee

Thu, 12 Sep 2013

Sept. 12 (BusinessDesk) - A claim by the receiver of failed lender Capital + Merchant Finance against its trustee Perpetual Trust has got the go-ahead after the High Court in Auckland appointed state-owned Public Trust to take over as the trustee of last resort. Justice Mark Woolford granted Perpetual’s application to make the order appointing Public Trust, having filed the claim after KordaMentha’s Grant Graham and Brendon Gibson decided to sue the trustee for breaching its duty to Capital + Merchant investors. Perpetual asked to excuse its...

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