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

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