In June 2007 David Richwhite, (along with his shell company Midavia Rail, formerly Pacific Rail) agreed to pay NZ$20 million, but did not admit liability for the claims.
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Fay and Richwhite were also involved in a series of transactions between 1986 and 1993 involving their companies European Pacific Investments; Capital Markets; Fay, Richwhite; the Bank of New Zealand; Tranz Rail; and Telecom New Zealand, transactions in which they personally gained over half a billion dollars at the same time as their minority shareholders lost NZD$277 million.
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Fay, Richwhite & Company is the investment vehicle of Switzerland-based New Zealand merchant bankers Sir Michael Fay and David Richwhite.
Fay Wray | Fay Weldon | Fay Vincent | Morgan le Fay | Michael P. Fay | Fay Compton | Sam Fay | Michael Fay | Fay School | Fay Kleinman | Fay Davis | Fay-Ann Lyons | David Richwhite | Michael Fay (banker) | Melissa Fay Greene | J. Michael Fay | Hesba Fay Brinsmead | Fred Fay | Fay Templeton | Fay McKenzie | E. Fay Jones | Peter W. Fay | Morgan Le Fay | Mildred Fay Jefferson | Joseph Fay | James H. Fay | George Fay | Frank B. Fay | Fay Tincher | Fay Rusling |