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New Zealand's High Court found CFO Carden Mulholland guilty of financial disclosure breaches, setting a legal precedent.
The High Court in New Zealand has found Carden Mulholland, former CFO of CBL Group, guilty of breaching continuous disclosure rules under the Financial Markets Conduct Act 2013.
This is the first case where a CFO has been held liable for such breaches in New Zealand.
Mulholland was found responsible for three out of five disclosed issues, including hidden debts and financial reserves.
The ruling sets a precedent for CFO accountability in financial disclosures.
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El Tribunal Superior de Nueva Zelandia declaró al CFO Carden Mulholland culpable de violaciones de la declaración financiera, lo que sentó un precedente jurídico.