watching brief: Curtains for Dalziel?

Tuesday 29 July 2008

Curtains for Dalziel?

Commerce Minister Lianne Dalziel yesterday announced the appointment of Donal Curtin as Deputy Chair of the Commerce Commission for a five-year term.

Watching Brief wonders if this is the same Donal Curtin who until last week was the chairman of troubled financial advisory group Vestar's investment committee.

News reports (http://www.nzherald.co.nz/section/3/index.cfm?c_id=3) say that forty-five Vestar clients are preparing a case against their former financial advisers, the directors of Vestar and its investment committee for giving them poor advice and ploughing millions into finance companies which have since hit trouble. Many were put into the same six finance companies - Bridgecorp, Capital + Merchant, OPI Pacific Finance, MFS Boston, St Laurence and Property Finance. OPI Pacific Finance and MFS Boston were owned by the same company that owned Vestar. The case is likely to include alleged breaches of the Fair Trading Act, which is monitored by the Commerce Commission.

The appointment of Donal Curtin yet again demonstrates how out of touch the Labour Government is with the electorate. Why Dalziel would make this appointment when the appointee has exposure to litigation in the very area where the Commerce Commission is also taking a keen interest baffles Watching Brief, or is it that Dalziel is just stupid?

watching brief

Tuesday 29 July 2008

Curtains for Dalziel?

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