20 Jun 2013

DBMS board member resigns before start of trial

12:47 pm on 20 June 2013

Diligent Board Member Services director Rick Bettle has resigned ahead of his trial as a director of Dominion Finance, a failed finance company.

Mr Bettle has resigned from the board of New York-based, New Zealand-listed Diligent with immediate effect.

The company said he did not resign due to any disagreement with the company on any matter relating to its operations, policies or practices.

Mr Bettle has been on the board since the float of Diligent, which is based in New York, in late 2007.

He is due to stand trial along with directors Vance Arkinstall and Paul Forsyth on 1 July.

Dominion Finance went into receivership in 2008, owing about $177 million to almost 6000 5,900 investors.

Two other former directors have already been sentenced to home detention.

North South Finance was placed in receivership in 2010, owing $31 million to 3900 investors.