26/05/2026
Can you legally suppress a secret that is already online?
Explore New Zealand’s landmark Supreme Court ruling on open justice and Ponzi schemes.
In this case explainer, we break down the high-stakes legal battle of UV Limited v AB Limited [2026] NZSC 31. When the Penrich Global Macro Fund collapsed, exposing a massive fraudulent Ponzi scheme run by Kelly Tonkin, a complex legal dilemma emerged. The District Court granted permanent name suppression to protect the victims under the Criminal Procedure Act 2011. However, when angry investors launched civil lawsuits to recover millions, a critical question arose: did using real names in civil pleadings violate criminal name suppression?
Furthermore, because director WX had already given online media interviews, the internet never forgot their identities. Discover how the High Court, Court of Appeal, and ultimately the Supreme Court evaluated the principle of "Open Justice" vs. privacy rights, applying the landmark "Erceg Test" to financial and reputational impacts.
📊 Key Moments & Chapters
00:00 - Suppression Broken: A Fight for Open Justice
00:24 - The Collapse of the Penrich Ponzi Scheme
00:38 - The Shield of Criminal Name Suppression
00:52 - The Accidental Media Exposure
01:08 - Criminal Law vs. Civil Law: A New Legal Battle
01:21 - The Core Legal Dilemma Explained
01:38 - Climbing the Ladder of New Zealand Courts
01:51 - Two Critical Questions for the Supreme Court
02:09 - What Does 'Relating To' Mean in Law?
02:21 - The Supreme Court Finds No Breach
02:37 - The Principle of Open Justice in NZ
02:52 - The 'Erceg' Test for Balancing Rights
03:09 - Fatal Law: The Internet Never Forgets
03:23 - The Final Verdict & Cost Orders
03:39 - Open Justice in the Digital Age: Key Takeaways
🔗 Resources & Connections
Read the Full Judgment Paper:https://www.courtsofnz.govt.nz/assets/cases/2026/2026-NZSC-31.pdf
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