Bridgecorp legal tussle looms
Bridgecorp investors will meet in the coming weeks to discuss taking legal action against their financial advisers and the failed investment company.
According to New Zealand wire services, Kapiti Coast sharebroker Chris Lee and Christchurch lawyer Grant Cameron are to meet with Bridgecorp investors in Auckland on October 25 to discuss the matter.
The meeting is being organised by the recently launched Exposing Unacceptable Financial Advice group, which claims to be working to protect mum and dad investors.
As previously reported on moneymanagement.com.au (http://www.moneymanagement.com.au/Articles/iBridgecorpi-falls-down_0c04…), some 18,000 debenture holders were affected by the collapse of Bridgecorp, with around $470 million owed to debenture stock investors and $30 million to unsecured lenders.
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.
