Pyne Gould warns of value loss if Torchlight unit wound up too early

Fri, 19 Feb 2016

By Paul McBeth Feb. 19 (BusinessDesk) - Pyne Gould Corp, whose NZX-listed shares have been suspended from trading since October, is warning that an early wind up of the Torchlight Fund housing distressed assets it manages would lead to a loss of value for investors. The Guernsey-based company is embroiled in litigation with investors who are seeking to wind up the Torchlight Fund and have brought legal action in the Cayman Islands. Last month, the court granted an injunction preventing payment to the fund's general partner without the in...

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