PGC may take Torchlight case to Supreme Court

Wed, 03 May 2017

By Rebecca Howard May 3 (BusinessDesk) - Pyne Gould Corp said it will consider taking a case involving its Torchlight Fund No 1 LP unit to the Supreme Court after the Court of Appeal ordered it to pay a late payment fee to Wilaci. The case concerns a loan to TLF1 from Wilaci, an entity connected with Australian businessman John Grill. Wilaci loaned the funds in August 2012 to help the Pyne Gould entity through what managing director George Kerr described as "a very tight liquidity situation" when Bank of Scotland International was leavin...

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