20 Apr 2012
HOTCHIN V THE FINANCIAL MARKETS AUTHORITY COA CA832/2011
- Citation
- COA CA832/2011
- Court
- Court of Appeal
The Court of Appeal upheld the High Court's refusal to replace statutory interim asset preservation orders with personal undertakings because the statutory orders were necessary to protect aggrieved persons, properly extended to future and potentially undisclosed assets (notably Paritai Drive), and undertakings offered were inadequate given weaker sanctions and reduced court supervision compared with orders under the Securities Act; supervision by the High Court judge was preferable for managing variations.