Bridgecorp bondholders get second payment at 4.5 cents in the dollar

Fri, 27 Jul 2012

July 27 (BusinessDesk) - Secured creditors of the failed finance company Bridgecorp are to receive a second payout from the receivers. The 4.5 cents in the dollar payout from the receivers, PwC, comes 11 months after a first payment, announced last August, of 3.5 cents in the dollar. Payment will be made on Aug. 20. In that time, the criminal trials of Bridgecorp principals, including former managing director Rod Petricevic, have been completed. Petricevic was sentenced to six and a half years' jail in April, and had a further four months ad...

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