Chen Palmer New Zealand Public Law Specialists has been authorised to issue the following media release
Media Release by Tony Brazier 19 August 2010
Aorangi Securities investors to approach Government
For Immediate Release
Tony Brazier, an investor in Aorangi Securities Limited (ASL), tonight said that he and a large group of fellow ASL
investors would be approaching the Government to seek to have the statutory management over ASL and Allan and Margaret
Hubbard terminated.
“I have taken advice from Chen Palmer New Zealand Public Law Specialists. The best course of action for ASL investors is
to write to Commerce Minister, the Hon Simon Power, to request that he and his Cabinet colleagues advise the
Governor-General to make an Order in Council terminating the statutory management of ASL and the Hubbards.
“I have been advised that this is the most constructive step that investors could take at this point” said Mr Brazier.
“We are expecting the SFO to announce that it will not be pressing charges and the next report of the Statutory Managers
is also unlikely to find fraud. The letter would go after that has been confirmed so the way is clear to lifting the
statutory management.”
Mr Brazier said that he had been advised that the purpose of the Government's power to impose statutory management was
to preserve the interests of investors and protect the public interest.
“On that basis, the most effective step that we investors can take at this point is to tell the Government that we
appreciate its intention to preserve our interests, but that we are fully confident our interests are best served by
having Allan Hubbard back in control of ASL.”
Mr Brazier reiterated his invitation to ASL investors who wished to join in the collective approach to Government to
contact him (tony@braziers.co.nz).
ENDS