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Judgment reveals C+M's poor state

Thursday 6th of December 2007
C+M sought, on November 23, an ex parte injunction at the High Court at Auckland to stop wholesale funder Fortress appointing receivers.

In his judgement Justice Harrison outlines the state of the business and he repeatedly makes it clear C+M was in a perilous position.

"I am in no doubt that CMF will be unable to remain solvent for much longer. Its prospects are slim, I repeat, of continu...

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