Donal Curtin, the former chairman of Vestar’s investment committee, has “resigned” as Deputy Chair of the Commerce Commission, effective from today. (more…)

Some interesting stuff has been written about Donal Curtin this week. Two in particular are worth reading…

• New Zealand Herald: Tamsyn Parker wrote a very good article titled “Curtin call brings very little response“
• Good Returns: Phil’s Blog carries an excellent article titled “Curtin enquiry arse covering“. Recommended reading.

Have a good weekend!
Verne

Donal Curtin, deputy chairman of the Commerce Commission, has been suspended pending a disclosure of interests enquiry.

The Commerce Commission has appointed Hugh Rennie, QC, to investigate its own deputy chairman – Donal Curtin – just six weeks after he was appointed. The issue Mr Rennie will investigate is whether (more…)

At a meeting in Whangarei this morning for victims of financial planning firm Vestar, 122 of the 126 in attendance supported a call for the resignation of the Minister of Commerce Lianne Dalziel.

The large crowd of Vestar investors reacted strongly to news of Dalziel’s appointment of Donal Curtin to the position of duputy chairman of the Commerce Commission. (more…)

Commerce Minister Lianne Dalziel today announced the appointment of Donal Curtin as duputy chairman of the Commerce Commission. In doing so, she has dissed [shown great disrespect to] the investing public.

Until last week, Curtin was the chairman of Vestar’s investment committee – an entity which masterminded the destruction of up to a quarter of a billion dollars of investors’ life savings.

Vestar pumped millions of clients’ retirement savings into junk bond status, sub-investment grade finance companies. Millions more were incestuously pumped into sister companies, one of which had previously failed a ratings report commissioned by Vestar. This, surprisingly, did not stop the Curtin-led investment committee from continuing to recommend it.

The Commerce Commission is already investigating several finance companies. How the Commission can credibly do so with Curtin as deputy chairman beggars belief.

What was Dalziel thinking?

The sooner this inept Government goes the better.