7 Nov 2012

Receivers appointed for Ross Asset Management

7:45 am on 7 November 2012

PWC and First NZ Capital have been appointed as the receivers of Ross Asset Management by the High Court in Wellington.

The decision follows the freezing of the assets of Mr Ross last Friday after the Financial Markets Authority received a number of complaints regarding the delayed or non-payment of investors.

PWC's John Fisk and David Bridgman will manage the business and identify the assets held, the names of clients and the value of the portfolios held.

The receivers will provide a report updating the court and Authority next week on the steps they have taken and the current status of their work, and will be in touch with known investors within the next two days.