22 Feb 2012

Former Bridgecorp boss has some regrets

6:25 pm on 22 February 2012

The former boss of the failed finance company Bridgecorp says in hindsight he has some regrets about how the company was run.

In his third day of giving evidence, Mr Petricevic told the High Court at Auckland he trusted his staff and it was up to them to make sure the company prospectus was accurate.

Rod Petricevic and two former directors are facing criminal charges over the company's collapse in 2007 owing more than $450 million.

Mr Petricevic has admitted he knew his company's prospectus in 2007 contained an error.

Under cross-examination, he said he was alerted to what he calls an anomaly in the language of the prospectus but expected other staff members to amend it.

Throughout his evidence, Mr Petricevic has maintained he was unaware of missed investor payments until the company collapsed.

He has also said he had nothing to do with the day to day running of the business and his role was to promote the company.

He is expected to finish giving evidence on Wednesday.