Quote Originally Posted by Balance View Post
Being people of considerable means, Peter Harris & Alistair Hutchinson simply need to file for a judicial review and RBNZ would be required to answer those 'questions'.

There is only one question which these two characters need to answer via their PR firm and we can all then evaluate if there is substance to their 'we are clean' campaign :

Q - Why did they transfer $55m against RBNZ's regulatory order? What other transfers (and how much) were they getting ready to make if the RBNZ did not act proactively to stop them from doing so?

Until they answer that question, they have ZERO credibility.
I can't comment on their credibility - just said that they are asking good questions.

Lets not forget that the RBNZ is holding the authority but seems to have no accountability to anybody. It would not be the first time that our banking and insurance oversight is badly failing. Chris Lee released recently an interesting book "The Billion Dollar Bonfire" describing the SCF story. Another sad tale where one wonders which role our regulatory authorities play ... other than keeping their eyes firmly closed unless they see a financial train wreck. If they do, than they pounce and make sure that the site of the accident gets nuked to (financially) destroy everybody involved and to maximise the damage to all stakeholders.