Reports That Air NZ Tried To Block ASIC Inquiry Into The Ansett Collapse.
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Reports That Air NZ Tried To Block ASIC Inquiry Into The Ansett Collapse.
NATIONAL NEWS
Air NZ bid to avoid inquiry rejected.
Geoff Easdown, Christine Jackman and Neale Maynard.
17oct01
AIR New Zealand is alleged to have tried to stop an official Australian Securities and Investments Commission inquiry into the Ansett collapse.
Government sources confirmed the Kiwi airline sought to impose this condition in exchange for the $150 million settlement with the troubled Australian carrier.
They said the condition was rejected outright by federal Transport Minister John Anderson who refused to interfere with any investigation by Australia's corporate watchdog.
Mr Anderson's office last night confirmed the condition was included in the first draft of a memorandum of understanding Air NZ put forward when drafting the settlement.
An Air NZ spokesman said the ASIC issue may have been included in an early draft of the terms of settlement, but not the final settlement agreed to by the directors of Air NZ and its Ansett subsidiary.
Ansett administrators Mark Mentha and Mark Korda have steadfastly maintained that the rights and powers of ASIC to investigate possible breaches of Australian Corporations law were not compromised by the settlement.
Mr Mentha told the Federal Court in an affidavit last week that no evidence of wrong-doing by the Air NZ group or its directors had been found in his preliminary investigations.
Air NZ acting chairman Jim Farmer also has said the Air NZ board had been neither dishonest nor reckless, and that the airline's directors would co-operate fully with the ASIC.
The ASIC, working with the NZ Securities Commission, is investigating possible breaches of directors' duties and compliance with laws preventing companies from trading while insolvent.
Air NZ bid to avoid inquiry rejected.
Geoff Easdown, Christine Jackman and Neale Maynard.
17oct01
AIR New Zealand is alleged to have tried to stop an official Australian Securities and Investments Commission inquiry into the Ansett collapse.
Government sources confirmed the Kiwi airline sought to impose this condition in exchange for the $150 million settlement with the troubled Australian carrier.
They said the condition was rejected outright by federal Transport Minister John Anderson who refused to interfere with any investigation by Australia's corporate watchdog.
Mr Anderson's office last night confirmed the condition was included in the first draft of a memorandum of understanding Air NZ put forward when drafting the settlement.
An Air NZ spokesman said the ASIC issue may have been included in an early draft of the terms of settlement, but not the final settlement agreed to by the directors of Air NZ and its Ansett subsidiary.
Ansett administrators Mark Mentha and Mark Korda have steadfastly maintained that the rights and powers of ASIC to investigate possible breaches of Australian Corporations law were not compromised by the settlement.
Mr Mentha told the Federal Court in an affidavit last week that no evidence of wrong-doing by the Air NZ group or its directors had been found in his preliminary investigations.
Air NZ acting chairman Jim Farmer also has said the Air NZ board had been neither dishonest nor reckless, and that the airline's directors would co-operate fully with the ASIC.
The ASIC, working with the NZ Securities Commission, is investigating possible breaches of directors' duties and compliance with laws preventing companies from trading while insolvent.
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Have you ever heard of someone or some organisation that has NOT done anything wrong and can prove it, try and cover it up, or offer a bribe not to be investigated? Didn't think so.....
Perverting the course of justice?
If found to be guilty, "Go to jail, go directly to jail. Do not pass go, do not collect Performance(??) bonuses".
Perverting the course of justice?
If found to be guilty, "Go to jail, go directly to jail. Do not pass go, do not collect Performance(??) bonuses".
