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Credit Suisse was granted leave to appeal the decision to the Supreme Court from the judgment of the Court of Appeal dated 23 November 2012 on certain time limitations issues arising from the representative regime of the proceeding. Mr Houghton was successful in the Court of Appeal. This appeal, if allowed, may result in all the represented claimants’ claims being out of time, notwithstanding that the representative regime was applied to the claimant group by the High Court when the proceeding was filed in February 2008. We will keep represented claimants informed as to this on this website. A decision is expected in the near future.

A separate appeal to the Supreme Court was heard immediately after the above appeal concerning the Feltex defendant directors’ rights to access their AIG Feltex IPO insurance policies for the costs of their defence.  There are two similar appeals on this issue, one of which was by Mr Houghton. He was successful and the charges asserted over the defendants’ insurance policies have been upheld by a majority of 3 judges to 2. A pdf copy of the decision is attached.

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