Capital + Merchant case adjourned

The case against the directors of failed finance company Capital + Merchant has been adjourned to October because the judge who was due to hear proceedings is unwell.

Owen Tallentire, Neal Nicholls, Colin Ryan and Robert Sutherland, together with Wayne Douglas, who was registered as a director in 2007, face criminal charges laid against them by the Securities Commission.

The charges relate mainly to related party lending and loan management.

Two of the directors, Douglas and Nicholls, made a brief appearance in the Auckland District Court this morning to hear the rescheduling of the case.

The remaining directors were excused from today's hearing and the October sitting by Judge Everitt because they are residents in Australia.

All were were remanded to October 6.

Capital + Merchant collapsed in July 2007 owing 7000 investors about $167 million.

- NZ HERALD