One hour free legal advice for Blue Chip investors

Media release – for immediate use 4 June 2008

“Property lawyers were very quick to volunteer their services to help out investors in the Blue Chip scheme,” Chair of the New Zealand Law Society Property Law Section, Chris Moore, said. He was commenting on the Minister of Commerce’s announcement welcoming the participation of lawyers in the Companies Office freephone line (0508 197 510 during office hours) to help people who invested with Blue Chip.

Lawyers from the Property Law Section have joined members of the Institute of Chartered Accountants to volunteer an hour's free advice to assist people who have lost money or property through the collapse of the Blue Chip group of property investment companies.

“When asked, members were only too ready to put their hands up,” Chris Moore said. “A lot of New Zealanders have been hit hard with investment losses in the last year or so, but the Blue Chip situation is particularly complex and we feel it is important that people can get some initial advice about their legal situation promptly,” he said.

New Zealand Law Society President John Marshall QC said this was an access to legal advice issue.

“Lawyers are very concerned that people who need legal advice are able to get it and, in the case of the Blue Chip investors, we want to help them by giving the initial advice free of charge,” he said.

The scheme is being run by the Companies Office. When it receives a call, it notes what sort of advice the caller wants and refers their name and contact details to a local lawyer or accountant.

ENDS

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