2 Aug 2012

Former Hanover directors to defend FMA legal action

6:49 pm on 2 August 2012

The former directors of Hanover Finance say they'll vigourously defend legal action taken against them by the Financial Markets Authority.

The capital markets watchdog filed civil proceedings against the directors and promoters of Hanover Finance, Hanover Capital, and United Finance earlier this year.

The authority claims Hanover misled investors in its prospectuses and advertisements.

The former directors reject the allegations saying it is relying on incorrect information, and have lodged statements of defence at the High Court in Auckland.