Tichbon, Strahl among members of Ross Asset committee
Tichbon, Strahl among members of Ross Asset liquidators committee
Feb. 12 (BusinessDesk) – Bruce Tichbon, who set up the support group for investors in the failed Ross Asset Management, and former commercial lawyer John Strahl are among those named to a liquidation committee set to meet this month.
The seven-member committee can’t make binding demands on liquidators John Fisk and David Bridgman of PWC but the pair are obliged to have regard for its views.
Assets of the Ross group of companies remain frozen pending the outcome of the committee’s meeting on Feb. 25 following a High Court ruling earlier this month.
Fisk and Bridgman were initially installed as receivers and managers of the RAM companies that Fisk has described as having the hallmarks of a Ponzi scheme. Some 1,720 investor accounts show investments totalling $449.6 million, though Fisk and Bridgman have only been able to identify $10.5 million of assets.
Tichbon and Strahl, formerly a partner at DLA Phillips Fox are joined by Jason Fullerton-Smith, chief financial officer of Kordia NZ, energy planner Tom Halliburton, management consultant Peter MacDonald, IT contractor Barrington Prince and property valuer Arthur Stewart.
The committee is made up of Ross group creditors to represent those people owed by the fund manager and was selected by a vote.
The various funds were frozen after a Financial Markets Authority Investigation, and the Serious Fraud Office is also inquiring into the case.