Rumour costly—society
PA Auckland The Countrywide Building Society said last evening that the cost of last month’s rumours that it was in financial difficulty was much higher than the “nominal” amount .it had received from the Social Credit Party. The party has paid the society an undisclosed sum
after a press statement — circulated by the member of Parliament for Pakuranga, Mr Neil Morrison, and published in newspapers — was followed by rumours that prompted a rush by depositors to withdraw funds. The chief executive of Countrywide, Mr Peter Martin, said that the legal
costs were paid after an agreement at the week-end between the society and the party. Mr Martin said inquiries were continuing in an attempt to establish the source of the rumours. If that source were found, he said, legal action was “a distinct possibility.”
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Press, 2 May 1985, Page 8
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136Rumour costly—society Press, 2 May 1985, Page 8
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