News

Trustees under spotlight over their role

Thursday 26th of March 2009

The report trustee firms – with Perpetual and Covenant singled out in particular – took a serious pasting from the Companies Office.

The report called the trustees timid, understaffed and hamstrung by “weak” trust deeds that favoured finance company commercial imperatives over good governance.

The Companies Office also suggested the ownership structure of some trustee companies co...

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