Hanover four say $18M settlement was in investors' best interests, court case would have failed

Mon, 06 Jul 2015

By Fiona Rotherham July 6 (BusinessDesk) - Four of the Hanover directors and promoters involved in an $18 million settlement with the Financial Markets Authority say it's the best outcome for investors and taxpayers, and the regulator would have failed in court. In a written statement, Mark Hotchin, Greg Muir, Tipene O'Regan and Bruce Gordon said they decided to settle because of the cost and burden of litigation lasting for many more years and because their insurers and former insurance broker made it possible to provide a payment to inv...

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