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05 March 2013

Nathans Finance NZ Ltd

The Commission alleged that statements concerning Nathans' lending to related parties, the quality of its loan book, its loan management practices and its management of liquidity were untrue. It is also alleged that the directors made untrue statements in a prospectus extension certificate in March 2007 

5 March 2013 - Civil proceedings discontinued.

 

30 September 2011 - Messrs Moses and Doolan appeal was dismissed by CoA.

 

2 September 2011 - Messrs Moses, Doolan, and Young were each found guilty on five out of the six counts in the indictment. Mr Doolan was sentenced to two years four months imprisonment and ordered to pay reparation of $150,000, Mr Moses for two years two months imprisonment and ordered to pay reparation of $425,000 and Mr Young nine months home detention, 300 hours community service and ordered to pay reparation of $310,000. All directors subject to automatic five-year management bans under s60E of the Securities Act. 

Messrs Moses and Doolan appealed against imprisonment.

 

8 July 2011 - Mr Moses, Mr Doolan and Mr Young found guilty.

 

4 March 2011 - John Hotchin has pleaded guilty to three charges under section 58 of the Securities Act 1978. He was sentenced in the High Court to 11 months home detention, 200 hours community service and payment of reparation of $200,000. Related media release: Nathans' Director Pleads Guilty to Securities Commission Charges.

 

12 December 2008 - Criminal charges were filed in the District Court at Auckland.

Civil proceedings were filed in the High Court at Auckland.