High Court turns down Kuwait Finance House claim over Canterbury funding

Thu, 11 Dec 2014

By Paul McBeth Dec. 11 (BusinessDesk) - The High Court in Nelson has turned down a US$3.4 million claim by Islamic investment firm Kuwait Finance House against a fellow investor in the failed Christchurch clothing manufacturer Canterbury. The Kuwaiti firm asked the court to uphold a ruling in the Bahrain Chamber for Dispute Resolution against Berkeley, California-based David Teece to repay funds provided to the former apparel maker in 2008. Associate Judge John Matthews turned down the bid for a summary judgment, saying the chamber wasn't...

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