Investors awaiting the outcome of the Commerce Commission’s investigation into the failed ANZ/ING funds will be now forced to wait even longer following Chairman Mark Berry’s admission today that the review has been delayed until mid April, ACT New Zealand Commerce Spokesman John Boscawen said today.
“Thousands of people have lost money in this collapse and all were expecting an answer next week. If it weren’t for my question to Mr Berry today, investors would not have been aware of the delay. This is not acceptable,” Mr Boscawen said.
“Investors’ funds were frozen in March 2008 and the case has dragged on ever since. Investors have been left in limbo – with some passing away without ever seeing the outcome.
“I urge the Commerce Commission to give this issue priority to ensure there are no further delays. Investors have waited long enough,” Mr Boscawen said.
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