Law suit for $11.6M
PA Auckland The seven former directors of the collapsed Securitibank group of companies are being sued for $11.6 million by the liquidator of the companies. The liquidator, Mr Harold Goodman, has filed his case against the former directors with the High Court at Auckland and is waiting for the former directors to reply. This action is the third
and final claim against Securitibank parties and marks the final chapter in a long series of legal battles stemming from the collapse of the group nine years ago. Securitibank’s collapse in December, 1976, was New Zealand’s biggest banking and finance house collapse. Mr Goodman has already filed two successful suits against the group’s former shareholders ana its auditors: ; ~
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Press, 13 November 1985, Page 11
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120Law suit for $11.6M Press, 13 November 1985, Page 11
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