News
$60m settlement in Credit Sails debacle
Tuesday 18th of December 2012
The Commerce Commission has reached a settlement with Forsyth Barr, France-based Credit Agricole Corporate and Investment Bank, Cayman Islands-based Credit Sail and Calyon Hong Kong, who were responsible for marketing the product to New Zealand investors.
Credit Sails were sophisticated debt securities marketed and sold to the New Zealand public in 2006 with the prospect of 8.5% interest...
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