Shareholder of collapsed $750 million insurer CBL to sue directors
Rob Stock, STUFF: 18 October 2019
Shareholders of failed insurance company CBL, which was once valued at $750 million, have begun signing up to a class action lawsuit against its directors.
The class action is being funded by LPF, which funded the successful civil case against former prime minister Dame Jenny Shipley and fellow directors of failed construction company Mainzeal.
National investment company Forsyth Barr wrote to clients today encouraging them to join the action against the former directors of CBL, which collapsed last year.
Harbour Asset Management Limited and Australian based Argo Investments, which are fund managers whose funds held shares in CBL, have both joined the class action.
TO READ THE FULL ARTICLE: CLICK HERE