Receiverships don’t come cheap, details of Ross Asset case show

Mon, 26 Nov 2012

Nov. 27 (BusinessDesk) – Receivers and their legal counsel for Ross Asset Management discounted their charges but still couldn’t extract their full fees from the liquid assets left in David Ross’s group of investment companies, the High Court has been told. The Financial Markets Authority got High Court approval on Nov. 6 to appoint John Fisk and David Bridgman of PwC as receivers and managers, with the assistance of brokerage First NZ Capital after complaints from investors about non-payments. Their work identified only $11 million of the pu...

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