Payout hinges on investigations
Sunday, July 19th 2015, 12:23PM
Van Eyk advice creditors could be waiting a long time to get their money back, the latest liquidators report suggests.
The report by KPMG identifies total claims of $1.6 million but says any payments will depend on the outcome of investigations into the firm.
Van Eyk was thrown into disarray when four of its Blueprint funds were terminated after being invested in an illiquid asset. The Blueprint funds provided more than half van Eyk’s revenue.
The $31 million investment was believed to be in a real estate development linked to people involved with its manager, Artefact Partners.
New Zealand investors have money with van Eyk largely through its now-terminated International Share Fund.
Van Eyk Advice could receive a distribution from its shareholding in Blueprint Investment Management but that too depends on the outcome of investigations.
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