Settlement of Commerce Commission investigation in relation to Credit SaILS
As you may have seen announced in the media, 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 have agreed to establish a settlement fund of NZ$60 million.
Public Trust is the trustee of the settlement fund and will administer the distribution of the fund to eligible investors in Credit SaILS who accept the terms of the settlement.
Further information on the Settlement is contained in the following documents. Please click on the links below to access...