PGC's Torchlight Fund to pay departing investors A$25.5M

Wed, 18 Jul 2018

By Rebecca Howard July 18 (BusinessDesk) - Pyne Gould Corp's Torchlight Fund has 30 months to make a fixed redemption payment of A$25.5 million after the firm announced a deal with unhappy investors who pursued the distressed asset investor through the Cayman Islands courts. Last week Pyne Gould said it reached a confidential settlement with the other investors, keeping full ownership of the general partner managing the fund and increasing its direct interest in the Torchlight Fund to 70.4 percent from 44.2 percent without investing extra...

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