$50M claim on Securitibank

Press, 22 May 1978, Page 11

$50M claim on Securitibank

PA Auckland A mettsn under the Companies Act containing claims amounting tp SSOM has been filed in the Supreme Court at Auckland- The claims are made, in varying amounts, against the main shareholders and directors of Securitibank, Ltd, or its subsidiaries. The applicant is the Auckland Paraplegic and Physically Disabled Association, acting on its own behalf and on behalf of the creditors of Securitibank. Ltd -— including all creditors and subsidiaries of Securitibank. The respondents named in the various parts of the motion are: South British Insurance Company. Ltd; the Government Insurance Com-

missioner; the general manager of . State Insurance; the New Zealand Insurance Company, Ltd; Prudential Assurance Company, Ltd, National Insurance Company of New Zealand, Ltd; Norwich Union Life Insurance Society; Pro vident Life Assurance Company. Ltd; John Keith Skinner, stock and sharebroker, of Dunedin; Douglas Littleton Bullock, company director, of Auckland; Robert Donald Cox, company director, of Auckland; Richard Spence Volkmann Simpson, solicitor, of Lower Hutt; Walter Gouinlock Anderson, company director, of Lower Hutt; John George Russell, company director, of Auckland; and John Spencer Rutherford, sharebroker, of Auckland.