CBL shareholders seek priority claim on insurance payout

Philip Skelton QC is representing CBL shareholders.

Mon, 22 Feb 2021

Former CBL Corporation shareholders are seeking a priority claim over proceeds from the failed insurer’s insurance policy, the High Court at Auckland heard today.Claimants in what is known as the Livingstone proceeding — the suit funded by Australian firm IMF Bentham — accuse the failed insurer of making misleading statements in its initial public offer, failing to disclose material information after its listing, and breaches of the Fair Trading Act.The NZX-listed insurer which once had a market cap of $747 million collap...

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