CBL proceedings will be a mega trial

A mega trial will be heard in the high court at Auckland over the CBL collapse. (Image: BusinessDesk)

Mon, 25 Jul 2022

A high court judge has ruled the Financial Markets Authority’s case against CBL Corporation and its directors must be heard alongside shareholder claims.This means a mega trial lasting at least six months will be held in April 2024 with three plaintiffs, more than 40 causes of action and 13 different defendants. The regulator had been at odds with investors in two class actions over how the cases should proceed.The FMA, two groups of shareholders, and the liquidators of CBL Insurance and CBL Corporation have all taken civil...

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