Mortgage manager’s trial date to be set this month
The Crown has filed a notice of appeal against the district court dismissal of Securities Act and contributory mortgage regulations charges against former Reeves Moses Hudig Mortgage Brokers Ltd directors Roger Moses & Gary Stevens, but their processing to the High Court has not been completed.
Judge John Hole dismissed all 70 charges against the two men in August. Crown prosecutor Brian Dickey indicated then that the Crown would appeal to get certainty on certain aspects of securities law for regulatory authorities and the industry.
To get to the High Court, the Crown has to file a draft case on appeal with the district court judge, which has been done. That case then has to be settled by the district court judge before it is sent on. This has not yet been done.
The appeal is over charges laid under section 59 of the Securities Act and the contributory mortgage regulations, but not charges laid under section 58 of the act.
The charges all related to running of the firm, and development loans to four projects, in 1999. The business was subsequently sold to Brisbane-based accountancy firm Hart’s, which has now decided to exit New Zealand.
The mortgage manager at the time of the loans, Peter van Nieuwkoop, faces similar charges. A trial date is expected to be set at the Auckland District Court callover on 24 October.
Mr Moses & Mr Stevens remain in business together. Mr van Nieuwkoop set up a separate business when he left Reeves Moses in 1999, Contributory Mortgage Investments Ltd.