New Zealand's FMA wins right to sue deceased CBL director's estate over alleged IPO fraud.
New Zealand's Financial Markets Authority (FMA) can continue its lawsuit against the estate of former CBL Corporation director Alistair Hutchison, following a court decision. Hutchison died in 2021, but the FMA alleges that CBL and its directors made false statements in their initial public offering and failed to disclose related-party interests. The FMA is now seeking declarations of contravention, not monetary penalties, and a trial is set for April 2026.
December 02, 2024
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