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Court sets CBL liquidation hearing date

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The Reserve Bank of New Zealand will next month make its case in court for CBL Insurance to be liquidated.

CBL has been in interim liquidation since February following a court application by the central bank.

Auckland High Court has set aside three days from July 30 for the hearing, which was planned for this month but was shelved because of stakeholder opposition to the liquidation proposal.

The Reserve Bank requested the deferral to let stakeholders present other options to the central bank and interim liquidators.