SFO loses first round in appeal on Capital + Merchant 'hub' deals

Thu, 13 Dec 2012

Dec. 14 (BusinessDesk) - The Serious Fraud Office has lost the first round in it its bid to appeal a ruling clearing Capital + Merchant Finance directors Wayne Douglas and Neal Nicholls over the so-called 'Hub loans'. In the High Court in Auckland, Justice Edwin Wylie turned down the Crown's application for the judge to revisit three questions of law surrounding the Palmerston North property transactions involving some $14.4 million of investor funds, according to a judgment published today. The Crown wanted Justice Wylie to review whether...

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