NAB is currently embroiled in a billion dollar damages claim with Ausmaq's developer Idoport Pty Ltd. Idoport alleges NAB and its National Markets Group subsidiary failed to properly develop Ausmaq, therefore it had ruined the huge business opportunities presented by e-commerce.
The company spent last week in court trying to get a receiver appointed to National Markets Group. It is also seeking A$32 billion in damages from the bank.
It is expected that the court will hand down a decision later this week.
Meikle was chief operating officer of the National Markets Group. He is well known in New Zealand through his previous roles with FPG Research and AdviserLink.
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