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Aorangi Securities investors to approach Governme


Chen Palmer New Zealand Public Law Specialists has been authorised to issue the following media release

Media Release by Tony Brazier 19 August 2010

Aorangi Securities investors to approach Government

For Immediate Release

Tony Brazier, an investor in Aorangi Securities Limited (ASL), tonight said that he and a large group of fellow ASL investors would be approaching the Government to seek to have the statutory management over ASL and Allan and Margaret Hubbard terminated.

“I have taken advice from Chen Palmer New Zealand Public Law Specialists. The best course of action for ASL investors is to write to Commerce Minister, the Hon Simon Power, to request that he and his Cabinet colleagues advise the Governor-General to make an Order in Council terminating the statutory management of ASL and the Hubbards.

“I have been advised that this is the most constructive step that investors could take at this point” said Mr Brazier.

“We are expecting the SFO to announce that it will not be pressing charges and the next report of the Statutory Managers is also unlikely to find fraud. The letter would go after that has been confirmed so the way is clear to lifting the statutory management.”

Mr Brazier said that he had been advised that the purpose of the Government's power to impose statutory management was to preserve the interests of investors and protect the public interest.

“On that basis, the most effective step that we investors can take at this point is to tell the Government that we appreciate its intention to preserve our interests, but that we are fully confident our interests are best served by having Allan Hubbard back in control of ASL.”

Mr Brazier reiterated his invitation to ASL investors who wished to join in the collective approach to Government to contact him (tony@braziers.co.nz).

ENDS


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