Delisting to Appeal Court
PA Wellington The New Zealand Stock Exchange is seeking clarification of issues raised when a judge granted an interim injunction restraining it from delisting NZ Forest Products. In his recent decision, Mr Justice Barker raised several important issues relating to the constitution of the exchange’s rules and listing agreements in terms of the Sharebrokers’ Amendment Act 1981, the exchange said in a statement In the High Court the exchange was given approval for the matter to
be heard in the Court of Appeal where a fixture would be sought as soon as possible, it said. N.Z. Forest Products had indicated that it did not wish to take any active part in the proceedings. It therefore remained for the exchange to seek clarification as to the points of law that led to imposition of the interim injunction, the exchange said. The Listed Companies Association was a party to the proceedings and had cooperated in efforts to have the matter resolved as soon as possible, the exchange said.
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Press, 21 April 1984, Page 21
Word Count
170Delisting to Appeal Court Press, 21 April 1984, Page 21
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