Bath Street rejects $22M demand from Pyne Gould

Thu, 07 May 2015

By Paul McBeth May 8 (BusinessDesk) - Bath Street Capital, which has been building up its local trustee business, has rejected a $22 million demand from Pyne Gould Corp over its acquisition of Perpetual Trust, saying no price was fixed in the deal. The Auckland-based company said it has received a demand for $22 million plus interest and costs, which Pyne Gould claims it's owed from the sale of Perpetual Trust in 2014. Bath Street said the agreement was for Pyne Gould to be paid if the shares of a subsidiary company were listed on the sto...

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