Pyne Gould says litigation likely over Perpetual Trust sale

Wed, 29 Aug 2018

By Paul McBeth Aug. 29 (BusinessDesk) - Pyne Gould Corp says it's more likely to head to court to recover what it claims it's owed on the sale of Perpetual Trust to Bath Street Capital five years ago. Last year the firm raised the spectre of litigation, having dropped a claim and counter-claim over the trustee transaction in 2016. Today, the Guernsey-based, NZX-listed wealth management firm lowered the valuation of its receivable for the Perpetual business to $16.6 million from $17.7 million a year earlier. "The directors consider...

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