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
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...

More Law & Regulation

'Trusted' builders to certify their own work
Property

'Trusted' builders to certify their own work

The changes are the latest in the Government's moves to make building more efficient.

Maria Slade 28 Apr 2025
Airports up in arms over blindside fresh regulatory review
Markets

Airports up in arms over blindside fresh regulatory review

Airports say if anything needs reviewing, it’s Air NZ’s regional routes monopoly.

Pattrick Smellie 28 Apr 2025
Three ex-LG NZ staff guilty of destroying evidence in anti-competitive investigation
Law & Regulation

Three ex-LG NZ staff guilty of destroying evidence in anti-competitive investigation

Two former managers of LG New Zealand who pleaded guilty for their involvement in destroying evidence during an investigation into potential anti-competitive conduct can now be named.Dowan Kim, the former country manager of LG NZ, and Nicholas Clarke, a former LG key account mana...

Staff reporters 23 Apr 2025
FNZ employee shareholders file class action
Law & Regulation

FNZ employee shareholders file class action

They claim to have $4.5 billion wiped off their shareholding. 

Staff reporters 23 Apr 2025