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Cash Plus requests withdrawn
published: Thursday | October 2, 2008

Two applications seeking directions from the Supreme Court in relation to investment scheme Cash Plus Ltd were withdrawn Tuesday.

Bank of Nova Scotia withdrew the application it had brought against the former temporary manager of Cash Plus Ltd seeking direction as to whether it had the authority to give information about its customers.

Former temporary manager Kevin Bandoian had asked the bank to furnish information in relation to some customers.

Court-appointed receiver

A court-appointed receiver for the personal assets of Cash Plus boss Carlos Hill also withdrew his application aimed at getting vital information about Cash Plus.

The applications were filed before trustee in bankruptcy, Monty Kandekore, was appointed liquidator and on that basis the parties withdrew the applications.

The former Cash Plus employee who placed the company into receivership in March will be pursuing her application to get compensation for security and accommodation. She said her life had been threatened since the company was placed into receivership.

A new application will be filed for the claim to be made against the liquidator.

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