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

 

Fisheries: Report On Underrsize Snapper Catch

The report found that commercial fishers caught 144 tonnes of undersized snapper in the Snapper 1 area – about 3% of the total commercial catch – in the year ending February 2015. The area stretches from the top of the North Island to the Bay of Plenty and is one of New Zealand’s most important fisheries. More>>

ALSO:

Tourism: China Southern Airlines To Fly To Christchurch

China Southern Airlines, in partnership with Christchurch Airport and the South Island tourism industry, has announced today it will begin flying directly between Guangzhou, Mainland China and the South Island. More>>

ALSO:

Dodgy: Truck Shops Come Under Scrutiny

Mobile traders, or truck shops, target poorer communities, particularly in Auckland, with non-compliant contracts, steep prices and often lower-quality goods than can be bought at ordinary shops, a Commerce Commission investigation has found. More>>

ALSO:

Auckland Transport: Government, Council Agree On Funding Approach

The government and Auckland Council have reached a detente over transport funding, establishing a one-year, collaborative timetable for decisions on funding for the city's transport infrastructure growth in the next 30 years after the government refused to fund the $2 billion of short and medium-term plans outlined in Auckland's draft Unitary Plan. More>>

ALSO:

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news