Feltex court case nears an end

Photo / Hawkes Bay Today

The last witness in the Crown's case against the former directors of carpet company Feltex has now been called, with closing submissions from the prosecution and defence expected to finish tomorrow.

John Feeney gave evidence yesterday - the final director to testify.

The Crown alleges that the directors Feeney, Tim Saunders, Peter David Hunter and Peter Thomas did not disclose that the company was in breach of its loan with ANZ or that is debt with the bank was on call in Feltex's interim financial statements to December 31, 2005.

The directors pleaded not guilty to the charges laid under the Financial Reporting Act.

This afternoon prosecution lawyer Brian Dickey will begin closing submissionss for the Crown.

The defence is then expected to open its closing submissions later today or tomorrow.

A decision is likely to be reserved.