9 Mar 2010

More legal action against a Commerce commissioner

6:32 pm on 9 March 2010

The Commerce Commission says one of its commissioners, Donal Curtin, is facing more court action in relation to his private role as an investment adviser.

The commission says private parties have taken the action against Mr Curtin in his former role as a consultant to Vestar Financial Services.

The latest court action is similar to proceedings filed in the Auckland High Court last year.

The commission says Mr Curtin will not be involved in decisions about the enforcement of the Fair Trading Act or Credit Contracts and Consumer Finance Act until all the proceedings are resolved.

It also plans to take other steps to ensure conflicts of interest will not arise.

Vestar was linked with failed finance firms Bridgecorp, Capital and Merchant, and OPI Pacific Finance.

Mr Curtin resigned as deputy chair of the commission last year.