By Jock Anderson
Friday 7th September 2001 |
Text too small? |
Tasman Pacific was the company behind Qantas New Zealand, which went into receivership at 3.30 am on April 26, owing $128 million and leaving staff and creditors out in the cold.
Five charges against each of the former Tasman Pacific directors - Trevor Farmer, Ken Cowley, Kevin Doddrell, David Skeggs, Fred Watson, David Belcher and alternative director Rob Campbell - were adjourned to early October when they were called in the Auckland District Court this week.
Defence lawyers want more time to put detailed submissions to the Crown seeking the withdrawal of the charges, which the former directors had vowed to vigorously defend.
Each proven charge carries a maximum penalty of $100,000.
Further legal action is being considered as liquidator Meltzer Mason Heath investigates the timing of the company's insolvency, amid claims by some creditors that the directors knew as early as last November the company was technically insolvent and were allegedly guilty of reckless trading. Liquidator Jeff Meltzer confirmed he was also investigating the circumstances surrounding the receivership.
No comments yet
Spark New Zealand appoints new director to the Spark Board
AFT to announce full year results on May 23 2024
CRP - Korella North Takes Another Two Steps Forward
May 3rd Morning Report
ASB workers to strike as bank proposes an effective pay cut
Rising tides, sinking stocks: study explores cost of climate change
May 2nd Morning Report
AGL - Change in Senior Management
Devon Funds Morning Note - 01 May 2024
Rick Christie to step-aside as a non-executive director