NZ Shareholders Assn wary CBL restructure may undermine investor protections

Mon, 11 Jun 2018

By Paul McBeth June 11 (BusinessDesk) - The New Zealand Shareholders Association wants to see the fine print of a restructuring plan put forward by CBL Corp directors Peter Harris and Alistair Hutchison, and is wary such a proposal could jeopardise legal remedies available in a liquidation. NZSA chief executive Michael Midgley said in a statement it was hard to establish whether the plan was achievable and appeared to relate only to the New Zealand unit of a much larger corporate entity. A High Court liquidation hearing was rescheduled fr...

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