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Cases before the courts

Current at 28 August 2017

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 2010. FMA alleges that Prince breached the obligations it owed to Viaduct investors and to the Treasury (the Crown) under the Retail Deposit Crown Guarantee.
28 August 2017  A settlement agreement has been reached.
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.