Credit SaILS

Settlement of Commerce Commission investigation in relation to Credit SaILS

On 12 December 2012 the Commerce Commission reached a settlement with Forsyth Barr Limited, Forsyth Barr Group Limited, Credit Agricole Corporate and Investment Bank, Calyon Hong Kong Limited and Credit Sail Limited (together, the 'Companies') regarding the marketing, promotion and sale of Credit SaILS.

Under the terms of the settlement, the Companies agreed to establish a settlement fund of NZ$60 million.

Public Trust as the trustee of the settlement fund and will administered the distribution of the fund to eligible investors in Credit SaILS who accepted the terms of the settlement.

Any questions can be directed by email to cts.enquiry@publictrust.co.nz