Bridgecorp faces further scrutiny
PricewaterhouseCoopers (PwC) has been appointed as the voluntary administrator of nine Australian companies of the collapsed Trans-Tasman property debenture investment company, Bridgecorp.
Ferrier Hodgson has also been appointed as receiver of the lending arm of the Australian operation, Bridgecorp Finance, which issued secured and unsecured notes to investors.
These announcements follow receivers from PwC being appointed to the New Zealand arm of the organisation.
One of the two PwC voluntary administrators appointed to the Australian operations, Phil Carter, said the pair would be working closely with PwC New Zealand in its process of assessing the company.
“We are in the process of assessing the group structure, the funding, assets and creditors,” he said.
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
