Last year, Harris was ordered by a High Court to pay a $1.4 million penalty for continuous disclosure and misleading conduct breaches relating to CBL.
As part of an in-court settlement, Harris made admissions to seven contraventions of the FMCA and agreed to an enforceable undertaking that he will not hold any management or directorship positions with any listed issuer or licensed insurer in New Zealand and will not participate in any regulated offer in New Zealand.
The initial public offering (IPO) proceedings continue against CBL, which is in liquidation, and the executor of the estate of former director Alistair Hutchison.