The LM First Income Mortgage Fund has been frozen since 2009 with $100 million of New Zealanders’ investments in it. Last week LM blamed its spat with Trilogy for the move to call in administrators.
LM investments were sold in New Zealand by several financial advisers, including Money Managers.
A request for comment was referred to the administrators, FTI Consulting. A spokesman said it was too soon to make comment but more information would be available soon.
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