The Court of Appeal has granted leave to appeal two of the eight charges the defendants were acquitted of in the CBL prosecution.

The Deputy Solicitor-General, on behalf of the Serious Fraud Office (SFO) as prosecutor, sought leave to appeal charge 1 and charge 8 in the High Court’s decision acquitting Peter Harris and Carden Mulholland.

Charge 1 against Peter Harris alleges a NZ$42,136,416 payment to Alpha Insurance A/S (Alpha) was a breach of a direction issued by the regulator, the Reserve Bank of New Zealand, under the Insurance (Prudential Supervision) Act 2010.

Charge 8 against Peter Harris and Carden Mulholland alleges they omitted to disclose the true nature of a deposit of €12,500,000 placed by CBL with the National Bank of Samoa.

The Court of Appeal has ruled the appeal will proceed on two questions of law underpinning the acquittals on charges 1 and 8. The Crown did not seek leave to appeal the remaining six acquittals.

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