MED to appeal costs award in Feltex case

The Ministry of Economic Development will appeal an award of costs against it in a case it lost against five former Feltex Carpets directors.

The District Court at Auckland yesterday ordered that the ministry pay the directors a total of $952,111 in reimbursement for legal and other costs. They had sought total costs of $1.36 million.

Tim Saunders, Peter Thomas, David Hunter, Michael Feeney and John Hagen were charged under the Financial Reporting Act.

Saunders, the former chairman, said in a statement yesterday on behalf of the directors that he believed it was one of the highest cost awards ever in a criminal case in New Zealand.

NZPA

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