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Hotchin's lawyers lose asset freeze appeal

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Hotchin's lawyers lose asset freeze appeal

By: Newstalk ZB staff | Latest Crime News | Friday August 17 2012 15:11

 

Another blow for former Hanover director Mark Hotchin.

Lawyers for the trust which owns the half-built mansion on Paritai Drive have lost an appeal against asset freezing orders put in place by the Financial Markets Authority.

Financial Markets Authority CEO Sean Hughes is welcoming the Court of Appeal decision.

He says the interim orders are important for enabling the FMA to preserve assets for aggrieved investors.

That's dependent on the outcome of civil proceedings yet to be heard.

Photo: NZ Herald

 

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Hanover | Mark Hotchin |

 

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