Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Morgan Price faces court action in Australia

News Release
25 June 2003

Morgan Price faces court action in Australia

The Supreme Court of New South Wales has appointed a receiver and manager to Morgan Price Ltd, a brokerage firm which has cold called investors in New Zealand from Sydney.

“We investigated Morgan Price after complaints from people who had been approached by them,” Director of Enforcement Norman Miller said. “We then referred the matter to the Australian Securities and Investments Commission (ASIC).”

“We are pleased that this company has been put out of action by the Australian authorities.”

ASIC has obtained injunctions against the company and its directors from promoting or offering any shares. The company has also been ordered to cease operating its website.

For further details see the attached statement from ASIC released late yesterday.

New Zealand people who paid money to Morgan Price could contact the receiver, Hall Chadwick, Level 29, St Martins Tower, 31 Market Street, Sydney, NSW 2000.

See for the names of brokers who are known to have approached New Zealanders without complying with New Zealand law.

* * * * *

© Scoop Media

Business Headlines | Sci-Tech Headlines


Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>


Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>