Acting for investors in Ross Asset Management in a litigation-funded proceeding against ANZ.
Kate and Fionnghuala acted for investors in Ross Asset Management. Ross Asset Management was the country’s largest Ponzi scheme when it collapsed in late 2012. The claim alleged that the information available to ANZ about the transactions of Ross Asset Management meant it was liable in equity for dishonest assistance and knowing receipt. The claim also alleged the bank owed, and had breached, a duty of care in negligence.
On 22 December 2021, the Wellington High Court approved distribution of the settlement funds. Distribution has been completed in accordance with those orders.