10 Jul 2014

Finance company director suspended

9:42 am on 10 July 2014

A lawyer and director of a failed finance company has been suspended from practising for seven months.

Anthony Banbrook was sentenced to eight and a half months home detention at the High Court in Auckland last March for making an untrue statement in a prospectus.

He was one of three directors of National Finance, which went into receivership in 2006 owing 2000 investors more than $24 million.

The Law Society says Mr Banbrook was guilty of gross negligence.

The Lawyers and Conveyancers Disciplinary Tribunal has now censured him, suspended him and ordered him to pay the Law Society costs of $4,606.