Financial services commission obtains £6.2m judgement against rock directors - Postonline: "In what is claimed to be a first of its kind judgement in the Supreme Court of Gibraltar, the Financial Services Commission has obtained £6.3m judgement against former directors of Rock Financial Services.
At the hearning the Supreme Court heard an application by the FSC for the assessment of damages against Michael Whitting, Anthony Whitting and Stephen Putnam who were formally directors of Rock Financial Services. RFS had been wound up by the Supreme Court on the application of the FSC in 2003.
The FSC had waited before taking action to allow the liquidators to undertake the pursuit and collection of assets and for a criminal investigation to be undertaken.
However, in the face of what it describes as the 'difficulties' encountered by the liquidators the FSC issued proceedings for regulatory breaches seeking a civil restitution order, among other orders, against the directors of RFS."
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