Justice Minister Collins tables stop-gap bill to protect Public Trust from litigation

Wed, 08 May 2013

By Paul McBeth May 8 (BusinessDesk) - Justice Minister Judith Collins has introduced stop-gap legislation to protect state-owned Public Trust from liability for failed finance company trustees if those firms choose to ditch their responsibilities. The minister tabled the Trustee (Public Trust) Amendment Bill in Parliament today as an interim measure after Perpetual Trust asked the High Court to appoint the state-owned trustee to supervise Capital + Merchant Finance, citing a conflict of interest. Perpetual faces litigation over its truste...

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