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Law & Regulation

CBL Corp directors fined for disclosure breaches

CBL Corp directors fined for disclosure breaches
CBL Corp was worth $747 million when trading of its shares on the NZX was suspended in February 2018. (Image: Supplied)
Staff reporters
Staff reporters
Fri, 22 Dec 2023
The high court has ordered CBL Corp and four of its former directors to pay penalties for continuous disclosure and misleading conduct breaches following proceedings brought by the Financial Markets Authority.As the NZ Herald reported, the proceeding related to CBL Corp (CBLC), then a listed entity, failing to disclose material information to the market during 2017 and 2018.CBLC and the four directors – Sir John Wells (who was chairman of the CBLC board), Tony Hannon, Paul Donaldson and Ian Marsh –  entered into settlement agre...
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