Pyne Gould says Torchlight Fund No 1, put in receivership by Sydney-based Wilaci, is 'an old shell'

Thu, 12 Jun 2014

By Jonathan Underhill June 12 (BusinessDesk) - Pyne Gould Corp., the asset management firm controlled by South Island entrepreneur George Kerr, says the Torchlight Fund No 1 LP, which was placed in receivership by a company associated with WorleyParsons chairman John Grill, is "an old shell" in dispute over residual payments on a loan. Kare Johnstone, William Black and Jason Preston of McGrathNicol were appointed receivers of Torchlight Fund No 1 on June 10, according to a note on the corporate advisor's website. Black told BusinessDesk t...

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