Proposed representative action

There has been coverage this morning about the High Court hearing in Christchurch about a proposed representative action.

We are committed to supporting all our customers and resolving their claims properly, fairly and efficiently. This includes the 46 participants in this proposed action.

All our customers are important to us. The proposed action represents 0.6% of all our over-cap house claims and the individual circumstances for each of these customers is different.

Our concern for the customers involved is around the potential delays and financial losses they may incur as a result of the legal process and the terms of the funding agreement they have been signed up to.  We have been, and will continue to work with these customers on their claims in the hope of getting them back into their homes and helping them move on with their lives.

We are concerned about the promotional material being put out by the proponents of the proposed representative action. We continue to offer two hours’ free, independent legal advice to anyone considering signing up to help ensure customers are fully informed about the risks of being locked into this litigation. As far as we know, all customers who have used this service so far have opted not to join the action.

After the hearing, the Judge said that he would release a decision in February at the earliest.

We've already successfully worked with more than 25,000 Cantabrians to settle their claims and help them to get on with their lives.

There is independent help and support available for customers right throughout the claim settlement process, including Breakthrough Services, Residential Advisory Service, and the Insurance and Financial Services Ombudsman. We encourage our customers to speak with us in the first instance if any questions or issues arise.

We're here to support and work with you.