Houghton-led Feltex shareholders appeal High Court ruling

Thu, 16 Oct 2014

By Suze Metherell Oct. 17 (BusinessDesk) - Shareholders in the failed Feltex Carpets, led by Eric Houghton, have appealed the High Court decision which found the directors were not liable for alleged disclosure failings in the 2004 prospectus. In a reserved judgment in the Wellington High Court on Sept. 15, Justice Robert Dobson cleared the former Feltex directors of misleading investors in its prospectus, but did note there were some criticisms to be made of the offer documents. Houghton's appeal, lodged with the Court of Appeal on Monda...

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