Powerhouse weighs up legal action after finding 'irregularities' at SolarBright

Mon, 29 Jan 2018

By Paul McBeth Jan. 30 (BusinessDesk) - Powerhouse Ventures has written off the value of its 30 percent stake in SolarBright and is weighing up legal action after discovering "irregularities" in the solar lighting maker's books a week after its founders quit. Christchurch-based Powerhouse wrote down the $500,000 value of the SolarBright stake to zero pending an investigation into asset ownership records, saying it discovered "a number of potential accounting and legal irregularities" including entries to public registers such as the Comp...

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