6 May 2011
THE FINANCIAL MARKETS AUTHORITY (FORMERLY THE SECURITIES COMMISSION) V HOTCHIN & ORS HC AK CIV 2010-404-8082
- Citation
- openlaw-b70f7340_82d4_4406_9369_623d67194696.pdf
- Court
- High Court
The Court held that the Authority had demonstrated sufficient grounds to continue interim preservation orders against Mark Hotchin because there were good grounds for the investigation, a significant potential liability, and a real risk of dissipation; however the orders were modified to release household belongings. The pleaded case against KA3 Trustee and KA4 Trustee was insufficient to sustain preservation orders as pleaded, so most orders against them were revoked but limited orders were retained in relation to a specific Paratai Drive asset and debts while the Authority is permitted to r…