Hotchin comes out swinging on FMA’s ‘ill-conceived’ Hanover case

Thu, 02 Aug 2012

Aug. 2 (BusinessDesk) – Former Hanover Finance boss Mark Hotchin is challenging the Financial Markets Authority to prove the failed finance company’s investors lost out for any other reason than the collapse in the New Zealand property market and the global financial crisis. Hotchin took the unusual step of releasing a press statement which he said summarised a Statement of Defence filed with the Auckland High Court on July 31, in response to charges laid by the FMA from an investigation that began more than four years ago. Hanover froze repa...

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