PricewaterhouseCoopers: Bridgecorp Staffing

Wednesday, 11 July 2007

PricewaterhouseCoopers: Bridgecorp Staffing

The receivers for Bridgecorp Limited (“Bridgecorp”) and several of its New Zealand-based subsidiaries, PricewaterhouseCoopers’ partners Colin McCloy and John Waller, reviewed staffing levels at the company and as a result 13 permanent positions were disestablished last week.

Among the 13 staff who were laid off were Bridgecorp managing director Rod Petricevic and the company’s finance director, Rob Roest.

Colin McCloy confirmed that although the two senior executives no longer had permanent roles with Bridgecorp, both remained in touch with the receivers. “Although Rod and Rob have left the company they continue to be available to assist us when required,” he said.

Mr McCloy and Mr Waller were appointed receivers by the Covenant Trustee Company Limited last Monday. This has seen them assume control of Bridgecorp’s business and assets.

A dedicated page on the PricewaterhouseCoopers website has been set up at www.pwc.com/nz/bridgecorp and this would continue to be updated. In addition, a dedicated phone line (Ph 09 355 8800) has also been established for any investors or creditors who have an enquiry relating to Bridgecorp.

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