Judge allows class actions against CBL Corporation to be discontinued

Former CBL chair Peter Harris. (Image: BusinessDesk)

Fri, 09 Jun 2023

The two shareholder class actions against CBL Corporation will be discontinued to pave the way for a settlement with the collapsed insurer. However, Justice Ian Gault kept interim suppression orders in place.The judge will hear further arguments on how to distribute the funds in a hearing on July 11 in the high court at Auckland. The collapse of the listed insurer that once had a market cap of $747 million attracted a swathe of litigation, including from a group known as the Livingstone shareholder claimants (after their lead claimant...

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