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Status of Hanover investigation


News Release

19 December 2010

Status of Hanover investigation

There has been increased public and media speculation as to the status of the Securities Commission’s investigation into Hanover Finance.

The Commission considers it is in the public interest to clarify the status of that investigation.

Commission staff are near completion of their investigation into Hanover Finance Limited, United Finance Limited and Hanover Capital Limited. The investigation has been complex and involves a team including investigators, forensic accountants, financial analysts and lawyers.

Commission Members will meet before Christmas to decide whether criminal charges will be laid against directors of the companies. Although no decision has yet been made, it is likely any charges will be laid in the new year.

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