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Cases before the courts

Current at 1 December 2016

Archer Capital and Healthcare Industry

This civil proceeding relates to allegations of breaches of the substantial shareholder disclosure obligations contained in the Securities Markets Act 1988.

15 July 2016 The Financial Markets Authority (FMA) has elected to discontinue the proceeding against Archer Capital (Pty) Limited (Archer) and Healthcare Industry Limited (HIL).
  A 3 week hearing has been scheduled to commence on 1 August 2016.
26 March 2015 A Case Management Conference took place in the High Court at Auckland and timetabling orders were made.
10 December 2014 FMA filed replies to the HIL and Archer statements of defence.
28 November 2014 HIL and Archer each filed statements of defence.
1 October 2014 The Financial Markets Authority (FMA) has filed and served civil proceedings against Archer Capital (Pty) Limited (Archer) and Healthcare Industry Limited (HIL). The proceedings are for alleged breaches of the substantial shareholder disclosure obligations contained in the Securities Markets Act 1988, in relation to shares in Abano Healthcare Group Limited (Abano).

 

Justin Prain and Mark Schroeder - Apple Fields

This proceeding relates to allegations that Messrs Prain and Schroeder, as Directors of Apple Fields Limited failed to deliver financial statements to the Registrar of Companies under ss 18(1) & 38(b) Financial Reporting Act 1993.

30 June 2016 The Court of Appeal issued a decision allowing the appeal and quashing the orders made in the District Court
11 January 2016 The High Court issued a decision dismissing the directors’ appeal.
29 September 2015 The appeal hearing was held in the Christchurch High Court.  The Judge’s decision has been reserved.
16 June 2015 The directors filed an appeal against both the substantive decision and the sentence.  The appeal will be heard in the Christchurch High Court on 29 September 2015.
25 May 2015

The directors were fined $30,000 each at the Christchurch District Court for failing to deliver financial statements to the Registrar of Companies for the years ending 2011, 2012 and 2013.

20 February 2015 The Judge issued a decision in the Christchurch District Court and found that the directors had breached the Financial Reporting Act. Sentencing will take place on 25 May 2015.
24 July 2014 A hearing date has been allocated for this matter in the Christchurch District Court on 20 November 2014.
12 June 2014 Messrs Prain and Schroder appeared in the Christchurch District Court on 12 June 2014 and each pleaded not guilty to all charges. The matter has been allocated a Case Review Hearing on 24 July 2014.

 

Prince and Partners Trustee Company Limited

This civil proceeding against Prince and Partners Trustee Company Limited (Prince) has been brought by FMA under section 34 of the Financial Markets Authority Act. In bringing the claim, FMA is exercising the rights of action of investors not covered by the Retail Deposit Crown Guarantee and the New Zealand Treasury. Prince was the trustee for finance company Viaduct Capital Limited (Viaduct). Viaduct collapsed in 2009. FMA alleges that Prince breached the obligations it owed to Viaduct investors and to the Treasury (the Crown) under the Retail Deposit Crown Guarantee.
29 June 2016

A trial date of 21 August 2017 has been allocated.

28 October 2015 A case management conference took place and further timetabling orders were made.
10 February 2015 A case management conference took place in the High Court at Auckland and timetabling orders were made.
3 September 2014 The Court made orders confirming that FMA may control these proceedings.
18 August 2014 FMA served civil proceedings on Prince.

 

Andrew Robinson and Mark Turnock

The criminal proceeding brought by FMA relates to allegations of breaches of the Financial Reporting Act, Financial Advisers Act and Financial Service Providers (Registration and Dispute Resolution) Act. The Serious Fraud Office has also laid separate charges under the Crimes Act against Mr Robinson.

22 June 2016 Mr Turnock was sentenced to four months’ home detention and 200 hours of community work.
  A disputed facts hearing in relation to the charges brought by the FMA against Mr Turnock has been scheduled to commence 17 February 2016.
27 October 2015 Mr Robinson was sentenced to 12 months imprisonment on the charges brought by the FMA.
9 October 2015 Mr Turnock pleaded guilty to a charge brought by the FMA.  Mr Turnock will be sentenced on 24 November 2015. 
30 September 2015

Mr Robinson pleaded guilty to the charges brought by the FMA.  Mr Robinson will be sentenced on 27 October 2015.

20 April 2015

An adjournment of the trial has been granted on the application of one of the defendants.  The matter will now be heard on 12 October 2015.

17 September 2014

Mr Turnock and Mr Robinson appeared in the High Court for a case review hearing.

9 July 2014

A 2 week trial on the FMA charges has been scheduled for April 2015.

2 July 2014

FMA’s prosecution of both Mr Turnock and Mr Robinson has been transferred to the High Court. A two week trial has been allocated for April 2015. Mr Turnock will next appear before the court on 9 July 2014.

2 April 2014

Mr Turnock and Mr Robinson have both been remanded on residential bail conditions and will next appear before the Court on 24 June 2014.

4 March 2014

Mr Turnock has been remanded on residential bail conditions until a further call over hearing on 15 April 2014. Mr Robinson will now next appear before the Court on 2 April 2014.

4 December 2013

Mr Robinson and Mr Turnock attended a Case Review Hearing on 4 December 2013. Mr Turnock has been remanded on residential bail conditions until a further call over hearing on 4 March 2014 and Mr Robinson will next appear before the Court on 20 March 2014.

26 September 2013

Mr Robinson and Mr Turnock pleaded not guilty to all SFO and FMA charges and opted for trial in front of a jury. Both were remanded on residential bail conditions until their Case Review Hearing on 4 December 2013.

5 September 2013

Following a joint investigation into the activities of Auckland based company Strategic Planning Group Limited (SPG), the Serious Fraud Office (SFO) and the Financial Markets Authority (FMA) have laid charges against former financial adviser Andrew Hrothgar Robinson (40).

Mr Robinson was a director of Strategic Planning Group Limited (SPG) and is a current director of SPG Investment Company No.1 Limited (SPGI).

Mr Robinson appeared in the Auckland District Court to face five charges laid by SFO under the Crimes Act of theft by person in a special relationship and one charge of dishonestly using a document.

It is alleged that Mr Robinson stole investor funds of approximately $3 million to repay the investments of other investors and to pay for some business and personal expenses between 2010 and 2012. It is further alleged Mr Robinson made false statements in various investment reports.

FMA has laid one charge against Mr Robinson under the Financial Service Providers Act for providing a broking service without being registered, and one charge of knowingly making a false statement in his application to become an Authorised Financial Adviser (AFA) under the Financial Advisers Act.

FMA has laid additional charges against Mr Robinson and a co-director of SPGI, Mark Andrew Turnock. They each face two charges under the Financial Reporting Act of making false statements in the SPGI financial documents. SFO has not laid charges against Mr Turnock.

 

Mark Warminger

The FMA has issued civil proceedings seeking pecuniary penalties against Mr Warminger for trading carried out between January and August 2014. The FMA alleges that MR Warminger’s conduct amounted to market manipulation in breach of s11B of the Securities Markets Act 1988.

26 September 2016 The hearing commenced in the High Court at Auckland and concluded on 20 October 2016. The decision has been reserved.
13 November 2015 The matter was called at the Auckland High Court and timetabling orders were made.
6 October 2015 A hearing date has been allocated for this matter in the Auckland High Court on 26 September 2016.
18 September 2015 The FMA has filed a statement of reply.
7 September 2015 Mr Warminger has filed a statement of defence.
27 June 2015 The FMA filed and served civil proceedings against Mr Warminger seeking pecuniary penalties for alleged breaches of the Securities Markets Act 1988 relating to trading carried out between December 2013 and August 2014 which the FMA alleges amounted to market manipulation.