Sharechat Logo

MED to appeal costs award in Feltex case

Thursday 23rd December 2010 2 Comments

Text too small?

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



  General Finance Advertising    

Comments from our readers

On 23 December 2010 at 9:26 pm howie said:
Good on the Ministry , how the judge came to the strange conclusions beggar's belief.
On 24 December 2010 at 9:19 am Ron Palmer said:
Lets hope the Ministry succeeds how a judge can reach a conclusion and reward gross inefficiencies is unbelievable
Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Wellington International Airport Ltd (“WIA040”) - Maturity
Devon Funds Morning Note - 18 July 2024
CNU - Commerce Commission releases draft Price Quality decision
Precinct FY24 Annual Results and Webcast Details
Scott Technology appoints new CEO
Synlait FY24 guidance withdrawal
Meridian issues demand response exercise notice to NZAS
July 17th Morning Report
CRP - Korella North Environmental Approval Granted
SCL - Sale of Apple Orchards