Curtin faces more legal action over Vestar dealings

Tuesday 9th March 2010

A further set of legal action are being taken against economist and Commerce Commission member Donal Curtin relating to his involvement with defunct financial advisory firm Vestar.

Curtin chaired Vestar's investment committee.

The commission says this is the second set of proceedings filed against Curtin.

"These are further to proceedings filed in the Auckland High Court last year on similar matters, and are issued by private parties.

"Until all of the proceedings are resolved, Curtin has been allocated to tasks that do not involve him in decision-making related to enforcement actions under either the Fair Trading Act or Credit Contracts and Consumer Finance Act.

"Other steps are being taken to ensure that conflicts of interest will not arise," the commission says in a statement.

It refused to make any further comment on the matter at this time.

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