Pyne Gould takes control of Torchlight Fund in deal with aggrieved investors

Tue, 10 Jul 2018

By Paul McBeth July 11 (BusinessDesk) - Pyne Gould Corp will take control of its Torchlight Fund as part of a deal with unhappy investors, including Accident Compensation Corp and Crown Asset Management, who had pursued the distressed asset investor through the Cayman Islands courts. The investors sought to have Torchlight Fund wound up after losing confidence in the Pyne Gould-owned general partner over concerns about its management, but no longer want to pursue the three-year-old litigation after an "exhaustive court process", the Guern...

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