The receivers of failed finance firm Bridegecorp have told investors to expect less than a tenth of their money back. That's what they said back in April too.
PriceWaterhouseCoopers say they're trying to stop the sale of the Momi Resort development in Fiji by the higher-ranking mortgage holder Fiji National Provident Fund.
In the past the receivers, Colin McCloy and Maurice Noone, have said that any payment from Momi, to which Bridgecorp lent $106 million, could have a significant impact on any return - but, as things stand, it's facing getting nothing back.
Meanwhile, it's expecting a small payment from the sale of one hotel in Australia over which Bridgecorp had a second mortgage, while a second hotel in Australia is yet to be sold.
In New Zealand, most assets have been sold and property developers who still owe money are being pursued.
Investors have had no payment since the collapse of Bridgecorp in July 2007.
PriceWaterhouseCoopers says 14,500 debenture holders are owed $459 million.
