UPDATE: Major investors back new CBL class action targeting directors

Fri, 18 Oct 2019

(Updates to add comment from IMF Bentham in third to last par)Another class action related to the collapse of CBL Corp has been launched, this one with the support of the insurer's major shareholders and targeting CBL's directors.Those shareholders include the largest institutional investor, Harbour Asset Management, Australia-based Argo Investments and broking firm Forsyth Barr.The suit is being backed by New Zealand-based litigation funder LPF Group. Another suit announced early this week is aimed at the company, which is in liquidation, and...

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