Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


PwC appointed Receivers & Managers to Ross Asset Management

Tuesday 6 November 2012

PwC appointed Receivers and Managers to Ross Asset Management Limited (In Receivership) and nine other associated entities

Following application by the Financial Markets Authority today, the High Court has appointed PwC Partners John Fisk and David Bridgman as Receivers and Managers to Ross Asset Management Limited and nine other associated entities, which are listed as:

• Bevis Marks Corporation Limited
• Dagger Nominees Limited
• McIntosh Asset Management Limited
• Mercury Asset Management Limited
• Ross Investment Management Limited
• Ross Unit Trusts Management Limited
• United Asset Management Limited
• Chapman Ross Trust
• Woburn Ross Trust

The Receivers and Managers have also been appointed to Mr David Robert Gilmore Ross personally.

Mr Fisk says, “Our first priority will be to establish the financial position of the Ross Group. In this regard, we will be writing to all known investors within the next 48 hours. In addition, the Receivers and Managers will be reporting back to the Court in five days on initial progress and proposed further actions.

“The Receivers and Managers have been appointed to take control of the Group’s assets and will also be responsible for preserving client investments in conjunction with share broker First NZ Capital.

“In the meantime, should investors or other stakeholders have any queries, please contact us via our website, facsimile, or postal address, or dedicated telephone message,” adds Mr Fisk.

The details are:

Postal
Ross Asset Management Limited (In Receivership) and related entities PricewaterhouseCoopers
PO Box 243
Wellington

Facsimile: +64 (0)4 462 7492

• In addition, a dedicated telephone message line +64 (0)4 462 7040 has been established for any investors or creditors who have an enquiry relating to Ross Asset Management Limited (In Receivership) and related entities.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>

ALSO:

Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>

ALSO:

Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>

ALSO:

Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>

ALSO:

Earlier:

Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>

ALSO:

'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>

ALSO:

Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news