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FMA wins settlement for finance company investors

Tuesday 29th of August 2017

The trustee for failed finance company, Viaduct Capital, have settled civil proceedings filed by the FMA for $4.5 million.

This is the first time the FMA has used its powers to act for investors.

The basis of the FMA’s case against Prince and Partners Trustee Company is that it failed to carry out its functions with the care, diligence and skill expected of a reasonably competent...

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