Hotchin gets leave to appeal
But the Supreme Court says he will have to overcome “formidable obstacles” if he is to succeed.
Hotchin had wanted to make Guardian Trust and Perpetual Trust jointly responsible for any compensation to investors, claiming they would have breached their duties if the directors were found at fault. He later dropped the claim against Perpetual.
A judgement released today allowed his appeal. But if he is to succeed it will have to be proved that the Hanover directors were negligent - something which they have so far denied.
Hotchin was a director of a number of finance companies which ceased trading in July 2008. Guardian Trust was the trustee for the securities offered by Hanover Finance.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[Weekly Wrap] Research shows KiwiSaver is a key issue in the election; GRTV Special looks at what's on offer.](https://goodreturns.publit.io/file/c_fill,w_300,h_200/36b7de93-7b53-4a06-855a-4a8f4009a280.webp)
