13 Jul 2010

Bridgecorp chairman fights directorship ban

11:55 am on 13 July 2010

The chairman of the failed Bridgecorp group is fighting a ban on serving as a director of other companies.

Bruce Davidson was prohibited by the Registrar of Companies for sitting as a director for 2.5 years.

The Companies Office had the option not to ban Mr Davidson, but only if he could show he was not responsible in any way for Bridgecorp's collapse.

However, the Companies Registrar found Mr Davidson could be, at least partially, to blame.

Mr Davidson is disputing that decision in the High Court.

It is the first time such an appeal has been heard by the court in the 17-year history of the Companies Act.

Mr Davidson also faces charges in the Auckland District Court relating to Bridgecorp's collapse.