Hubbard statutory managers lose bid to exclude Aorangi investor owed $5.8 mln

Sun, 22 Dec 2013

By Paul McBeth Dec. 23 (BusinessDesk) - The statutory managers for the late Allan Hubbard’s Aorangi Securities have lost a bid to exclude an American widow who had some $5.8 million invested with the Timaru businessman. In the High Court in Christchurch, Justice Robert Dobson today struck down a bid by Grant Thornton’s Richard Simpson, Trevor Thornton and Graeme McGlinn to have Susan Jenks and her deceased husband declared not investors in Aorangi Securities, one of the Hubbard investment vehicles under their statutory management. The sta...

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