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Vestar / Bridgecorp investors soon to look forward


Vestar / Bridgecorp investors may soon be able to look forward.

MSF New Zealand who own Vestar were reported yesterday as giving a "lifeline" to Bridgecorp investors.

This information prompted a meeting between MSFs CEO Jason Maywald and Suzanne Edmonds, Coordinator of EUFA.

The meeting was successful however Mr Maywald was unable to comment on details of what MFS will propose.

MFS hope to have a proposal to its Vestar clients by Christmas. They have been working on a range of strategies since Bridgecorp collapsed in July and are working through the final stages of a proposal.

While the news is very positive it is imperative that investors be patient and calm in the waiting period.

It was clear from the meeting that MFS have a genuine concern for this crisis with Bridgecorp and do have a concern for reaching a positive outcome for investors.

Following EUFA's meeting with the Bridgecorp Receivers and MFS it is clear that the issues are extremely complex.

What MFS will be proposing at this stage is not known but it certainly is making genuine attempts to find a win win solution after what is proving to be a huge disaster in the finance world.

Mr Maywald stressed this will not be a negotiation or compensation package but rather a way forward for all those who have been hit so hard by the Bridgecorp demise.

EUFA encourage Vestar clients to contact them.

ends


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