Commerce Minister Lianne Dalziel will meet an Australian consumer advocate today to discuss models for helping investors take legal cases against failed finance companies.
Ms Dalziel will meet with Denise Brailey, who works for IMF Australia, a listed company that provides money for big commercial litigation or multi-party
actions.
She is also looking at other models and suggestions such as one from Blue Chip investor lawyer Paul Dale to set up a designated co-ordinator for Blue Chip investors seeking legal aid.
"It seems that lack of funding for legal action is one of the biggest barriers to investors getting their day in court as many do not qualify for legal aid, despite having lost considerable sums of money and, in some cases, their life savings or their homes," Ms Dalziel said.
- NZPA
