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...

Unlock all stories
free for 10 days

Trustworthy, balanced journalism every day from our growing team of New Zealand business reporters and commentators, plus more in our weekend magazine section, The Life.

Instant News Alerts based on keywords you choose or journalists you follow
Our Daily Digest of all stories at 6am, midday or 6pm
Comprehensive business and markets coverage
News via email, web and Apple/Android apps

Try for 10 days without paying and if you’re not convinced cancel with just two clicks.

Find out more

Subscribe now

Name

E-Mail Address

Password

Confirm Password

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Cardholder's Name

Card

You will be charged in 10 days unless you cancel beforehand. We will remind you three times before charging you.
All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service {{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Or Subscribe with Google

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close

NZ shares fall as market rally evaporates

Dan Brunskill | Wed, 29 Jun 2022

A survey showed US consumer confidence was at its lowest since 2013.

Bloomberg

Donald Trump Steers Himself into a Legal Morass

Bloomberg | Wed, 29 Jun 2022

I don’t think anyone can doubt that Trump committed crimes, based on the testimony we’ve heard. Serious crimes.

Infrastructure

Kiwi chair Mark Ford says property values may fall 5-10%

Jenny Ruth | Wed, 29 Jun 2022

Many of the factors weighing on Kiwi Property's share price are beyond its control, chair Mark Ford told shareholders.

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

Subscribe now

Or Subscribe with Google

Not convinced yet?

Your company has a subscription

Team