Celebrating 25 Years of Scoop
Special: Up To 25% Off Scoop Pro Learn More

Local Govt | National News Video | Parliament Headlines | Politics Headlines | Search

 

CBL Appeal To Go Ahead

The Court of Appeal has granted leave to appeal two of the eight charges the defendants were acquitted of in the CBL prosecution.

The Deputy Solicitor-General, on behalf of the Serious Fraud Office (SFO) as prosecutor, sought leave to appeal charge 1 and charge 8 in the High Court’s decision acquitting Peter Harris and Carden Mulholland.

Charge 1 against Peter Harris alleges a NZ$42,136,416 payment to Alpha Insurance A/S (Alpha) was a breach of a direction issued by the regulator, the Reserve Bank of New Zealand, under the Insurance (Prudential Supervision) Act 2010.

Charge 8 against Peter Harris and Carden Mulholland alleges they omitted to disclose the true nature of a deposit of €12,500,000 placed by CBL with the National Bank of Samoa.

The Court of Appeal has ruled the appeal will proceed on two questions of law underpinning the acquittals on charges 1 and 8. The Crown did not seek leave to appeal the remaining six acquittals.

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

 
 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels


 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.