8 Apr 2010

Case against finance company directors adjourned

8:04 pm on 8 April 2010

A case brought by the Securities Commission against the directors of the failed finance firm Capital + Merchant has been adjourned until 4 May.

Papers were filed in court on Thursday, but the directors did not appear in person.

The commission has laid criminal charges and issued civil proceedings against Neal Nicholls, Owen Tallentire, Colin Ryan and Robert Sutherland.

Criminal charges have also been laid against Wayne Douglas, who resigned as a director in February 2007.

The commission contends offer documents and advertisements by the company misled investors, especially in relation to related party lending.