The receiver of failed Belgrave Finance is pursuing two of the company's former directors, one of their associates and a Hawkes Bay law firm for financial compensation.
Belgrave Finance went into receivership in May 2008, owing around 1000 investors more than $20 million. It was liquidated in April 2010.
Receiver KordaMentha has instructed Bruce Stewart, QC, and is seeking compensation from former Belgrave directors Shane Buckley, Stephen Smith and an associate, Raymond Tasman Schofield.
The receiver is also taking action against Davidson, Armstrong & Campbell (DAC Legal), which acted on behalf of Belgrave.
Smith, Buckley and Schofield are also facing charges brought by the Financial Markets Authority.