CBL Insurance IPO

[BlackPeter]

Good questions which they can require the RBNZ to answer with a judicial review.

Why have they not done so but spend money on PR?

Answer is obvious.

Look - I do not share your trust into a judicial review which - according to your claim - people with enough money seem to be able to buy. I didn't realise that NZ did sink already that low on the way to banana republic status. You are painting a revolting picture of our justice system.

Thousands of CBL shareholders as well as an unknown (but probably large) number of clients have lost funds due to RBNZ incompetence. They deserve answers from the RBNZ as well as from our politicians without the need to buy themselves a "judicial review". Your proposal is unethical and ridiculous.

[Balance]

Look - I do not share your trust into a judicial review which - according to your claim - people with enough money seem to be able to buy. I didn't realise that NZ did sink already that low on the way to banana republic status. You are painting a revolting picture of our justice system.

Thousands of CBL shareholders as well as an unknown (but probably large) number of clients have lost funds due to RBNZ incompetence. They deserve answers from the RBNZ as well as from our politicians without the need to buy themselves a "judicial review". Your proposal is unethical and ridiculous.

Rubbish.

CBL shareholders lost money because of what Harris & Hutchison did.

Why did they transfer $55m overseas against the order of the RBNZ?

A judicial review is one of the pillars of our justice system - that no government departments or entities can escape scrutiny.

https://communitylaw.org.nz/communit...dicial-review/

[Lola]

http://www.stuff.co.nz/business/mone...-and-adversity

Enuf said about Chris Lee - the man who had his own finance companies rating system and who thought Allan Hubbard walked on water.

Be nice to have a newspaper re run this article if for no other reason but to provide a bit of balance to the opinions in the Billion Dollar look at me book.

[BlackPeter]

Rubbish.

CBL shareholders lost money because of what Harris & Hutchison did.

"Rubbish" - your ultimate argument?

How do you know why shareholders lost money? So far everything seems to be under wraps - and it was the RBNZ which prevented the CBL board to disclose market relevant information.

Harris & Hutchinson might well have started to destroy the company (well - trading while being insolvent is never a good idea), but RBNZ clearly destroyed any remaining assets (what is the worth of an insurance company in liquidation?) and made sure that shareholders did not learn about the companies position for over six months ... while the shares have been traded. Investors apparently bought shares of an insolvent company without knowing what the RBNZ and the board knew, but the board was not allowed to disclose due to the RBNZ gagging order.

[BlackPeter]

Why did they transfer $55m overseas against the order of the RBNZ?

RBNZ had to act once the order was breached. Not to do so would have invited actions from creditors and other interested parties.

So why did Harris & Hutchinson believe they can get away with such a blatant breach of said order? An order put in place to protect all interested parties?

I have no doubts whatsoever that these two characters would not want scrutiny of what and why they breached the order in a judicial review. As simple as that.

You are the one who is jumping to conclusion - at the instigation of Harris & Hutchinson who just need to apply for a judicial review.

Why spend $$$ on PR when they can spend on a judicial review?

Similar to Chris Lee - the man who was so cocky sure of his ability to analyse & recommend finance companies, especially SCF. History shows otherwise.

I am very very aware of what Hubbard was up to in the 5 years leading the collapse of SCF - he was dishing out tens of millions of dollars to all kinds of characters without the most basic of documentation & due diligence. The charitable & competent Hubbard BS lives on in the minds of the Chris Lee of the world. Those of us who witnessed some of Hubbard's deals know what he was up to.

LOL - you seem to come out of the new SML school - the pinker (or is this red?) and bigger the better ...

Sadly, in real life does shouting not resolve arguments - and it is quite rare that the one with the louder voice or the bigger red font is right.

But sure, your question is valid ... however it does not in any way invalidate Harris and Hutchinson's questions.

I suppose that at least incompetence is sitting on both sides of the argument ... and it would be good for our market place and our system if we are getting answers to the questions from both sides.

You just try to shout down one set of questions.

May we learn, why? Are you involved with the RNBZ' s dealings?

Ah yes - and did you read Chris Lees book? ... or are you just spreading uninformed rubbish?

[Balance]

LOL - you seem to come out of the new SML school - the pinker (or is this red?) and bigger the better ...

Sadly, in real life does shouting not resolve arguments - and it is quite rare that the one with the louder voice or the bigger red font is right.

But sure, your question is valid ... however it does not in any way invalidate Harris and Hutchinson's questions.

I suppose that at least incompetence is sitting on both sides of the argument ... and it would be good for our market place and our system if we are getting answers to the questions from both sides.

You just try to shout down one set of questions.

May we learn, why? Are you involved with the RNBZ' s dealings?

Ah yes - and did you read Chris Lees book? ... or are you just spreading uninformed rubbish?

You obviously read Chris Lee's book - enuf said!

[BlackPeter]

You obviously read Chris Lee's book - enuf said!

I did ... and while I wouldn't call it a must read for future investors - it does give a quite interesting perspective on the SCF saga and the many weak points in our regulatory framework. I am surprised about you rubbishing it without knowing it, but I guess this tells us a lot about you.

Actually - the book might even support your political views. Highlighting a lot of slips and mistakes in John Keys government ... (though I am not sure the other side would have handled the story differently, but you never know, do you?)

[Balance]

I did ... and while I wouldn't call it a must read for future investors - it does give a quite interesting perspective on the SCF saga and the many weak points in our regulatory framework. I am surprised about you rubbishing it without knowing it, but I guess this tells us a lot about you.

Actually - the book might even support your political views. Highlighting a lot of slips and mistakes in John Keys government ... (though I am not sure the other side would have handled the story differently, but you never know, do you?)

I don't have time to read books from self-serving history-rewriting individuals with the sort of background and track record as Chris Lee. You obviously has plenty of time on your hands so all power to you.

"No financial strategy, other than to buy government stock and use bank deposits only, has been successful," he (Chris Lee) wrote to the Lindsays earlier this year." Wow!

[Lola]

I don't have time to read books from self-serving history-rewriting individuals with the sort of background and track record as Chris Lee. You obviously has plenty of time on your hands so all power to you.

"No financial strategy, other than to buy government stock and use bank deposits only, has been successful," he (Chris Lee) wrote to the Lindsays earlier this year." Wow!

THIS IS GOOD
BUT ITS a page ABOUT CBL.

PLEASE BALANCE START A PAGE ON THE
ELEPHANT LEE AND HIS SELECTIVE MEMORY.

LETS HEAR SOME FACTS EMERGE.
ALREADY WE KNOW HE PUBLISHED THE BOOK
FOR SELF CLEANSING MOTIVES.

[Balance]

THIS IS GOOD
BUT ITS a page ABOUT CBL.

PLEASE BALANCE START A PAGE ON THE
ELEPHANT LEE AND HIS SELECTIVE MEMORY.

LETS HEAR SOME FACTS EMERGE.
ALREADY WE KNOW HE PUBLISHED THE BOOK
FOR SELF CLEANSING MOTIVES.

Good point but do note :

There are plenty of similarities between CBL & SCF.

There are also plenty of similarities re the self-cleansing (good term) attempted by Chris Lee vs the PR spin by Harris & Hutchinson to shift attention away from what they did which destroyed CBL.