Hanover Commerce Commission Investigation

Media Release:
14.01.2009

EUFA
(Exposing Unacceptable Financial Activities Inc Soc)
www.eufa.co.nz

Hanover investors need to assist the Commerce Commission with their investigation into Hanover finance.

Investors who invested with Hanover, especially in the year prior to July 08, should gather all their information of how they came to invest, what coerced them etc and supply it to the Commerce Commission. This could vastly assist the Commission to establish if there has been a breach of the Fair Trading Act 1986. The Act deals with deceptive conduct in business and in part, false or misleading representation concerning the characteristics of business.

Hanover investors , individually may hold key information in their documentation, diary notes or emails which would speed up the investigation and allow it to conclude either way.

Coordinator of EUFA, Suzanne Edmonds said from Auckland today “As individuals it is easy to think one can not contribute much, however one or two bits of paper, that may seem worthless to one, could in fact be vital information in a big picture.”

In most instances an investigations success is based on information provided in increments and with the large number of investors the Commission would benefit from investor input.

Mrs Edmonds added “Apathy and a feeling of hopelessness from investors could hinder the Commissions process and we are appealing to all Hanover investors to either contact the Commission or EUFA with their own individual case scenario.”

ENDS

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