Statutory managers say they need to unravel $60 million worth of transactions completed by the late Timaru businessman Allan Hubbard.
Earlier this month, Allan Hubbard died following a car crash and his wife Jean was injured.
The Serious Fraud Office has dropped fraud charges against Mr Hubbard.
The statutory managers for the Hubbardssay they reversed Mr Hubbard's share transfers to Aorangi Securities, in order to ascertain whether the shares were held by the Hubbards in trust for Aorangi, or for their own benefit.
The managers say they will continue their efforts to have these assets available to Aorangi investors though there are some competing claims.