FMA leaves civil claim against SCF to Crown Asset Management

Tue, 16 Dec 2014

By Paul McBeth Dec. 17 (BusinessDesk) - The Financial Markets Authority won't chase South Canterbury Finance in a civil claim, saying it can't justify the cost of doing so and leaving it to Crown Asset Management (CAML) to pursue the failed lender's directors. The market watchdog today closed its inquiries into a potential civil claim against SCF, two days after former director Ed Sullivan was this week sentenced to 12 months' home detention and 400 hours' community work from five charges involving related party lending that should have b...

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