9 Apr 2009

Blue Chip faces further legal action

7:07 am on 9 April 2009

The liquidators of property investor Blue Chip are taking legal action.

Meltzer Mason Heath have applied to the High Court for direction on whether the company breached securities laws in the promotion and sale of its investment products.

Blue Chip co-founder Mark Bryers is facing various charges, including alleged breaches of the Companies Act.

The company owed $84 million to more than 2000 investors when it collapsed in February 2008.