Peter Harris' co-accused in CBL fraud case argues Covid-19 economy increases suppression hardship

The Court of Appeal suppression hearing was held today in Auckland's historic High Court building. Photo / File

A man facing fraud allegations alongside former CBL chief executive Peter Harris argues the economic stresses of Covid-19 have increased the hardship he will suffer if publicly named.

The man was charged with Harris by the Serious Fraud Office (SFO) last December after an investigation began in June 2018, following the insurance company's collapse with a market value of $747 million.

While Harris has seemingly embraced being named in connection to the criminal case, his co-defendant has argued to keep his identity suppressed.

After being declined suppression earlier this year by the District Court, the man appealed to the High Court and a hearing was held in August, the details of which remain suppressed.

CBL chief executive Peter Harris, pictured outside the High Court, has never sought name suppression like his co-accused. Photo / Brett Phibbs

Today, a third suppression hearing was held at the Court of Appeal in Auckland for the man who faces charges of theft by a person in a special relationship, obtaining by deception and false accounting.

Defence lawyer David Jones QC told the court, consisting of Justices Patricia Courtney, Mark Woolford and Cameron Mander, that Covid-19 has increased the potential hardship to his client and his business interests if he were to be identified.

The private sector, he said, was bearing the brunt of the "dire economic circumstances", while those in the public sector were immune from the pandemic's financial effects.

Other arguments for suppression were also made by Jones, however, they are inextricably linked to the man's identity, preventing the Herald from reporting them.

However, Justice Courtney did query if Covid-19 had become a "distraction" to the man's suppression bid.

Auckland's Crown Solicitor Brian Dickey opposed continued suppression for the man at the hearing.

The judges have reserved their decision on whether or not the man should be named.

Both Harris and his co-accused have denied all the charges against them and are currently on bail.

An eight-week trial has been scheduled to start in September next year.

Harris, 65, is charged with five counts of theft by a person in a special relationship, two of obtaining by deception and a single charge of false accounting.

He was the CEO and managing director of CBL Insurance and the managing director of CBL Corporation from January 2007.

After being charged, Harris said: "I welcome the opportunity to finally bring the wider picture of the CBL saga before the court ... "

A group of civil proceedings are also running concurrently to the criminal case, including two class actions by CBL's shareholders.

CBL Corporation and CBL Insurance were both placed into liquidation by the High Court in 2018.