High Court rules continuous disclosure doesn't extend to voluntary administrations

Tue, 14 Aug 2018

By Paul McBeth Aug. 15 (BusinessDesk) - The High Court has ruled listed firms in voluntary administration don't need to meet NZX's continuous disclosure obligations designed to protect the integrity of trading. Chief High Court Judge Geoff Venning found disclosure obligation don't apply for those listed issuers in voluntary administration, saying the legislation supporting the NZX's listing rules was based on the premise of an active market, which doesn't exist in an administration. Parliament's specific prohibition on share trading duri...

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