UPDATED FMA mulls prospect of revisiting Blue Chip after investors win at Supreme Court

Thu, 09 Aug 2012

Aug. 9 (BusinessDesk) - The Financial Markets Authority is mulling what action it could take against Blue Chip now that the Supreme Court has ruled it was in breach of the Securities Act with a scheme to sell apartments in Auckland. A group of investors in Blue Chip have won their Supreme Court appeal against being forced to buy apartments in Auckland that were originally to be funded with assistance from the failed finance group. “Now that the Supreme Court has ruled in favour of Blue Chip investors, FMA will be looking at the judgment very...

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