Credit Sails report creates 'imbalanced impression', Forsyth Barr says

Thu, 07 Mar 2013

By Paul McBeth March 7 (BusinessDesk) - Forsyth Barr, one of the lead managers for the sell-down of MightyRiverPower, has criticised a Commerce Commission report into the broker's role in the sale of complex and ultimately toxic securities, saying its creates an "imbalanced impression" and "contains factual errors." In December, the broker and French investment bank Credit Agricole cut a $60 million settlement giving investors in NZX-listed Credit Sails notes 85 percent of their principal back, heading off a potential law suit from the Comme...

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