CBL shareholders seek priority claim on insurance payout

CBL shareholders seek priority claim on insurance payout
Philip Skelton QC is representing CBL shareholders.
Victoria Young
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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