Failed finance companies net PwC more than $10mill

The accounting firm has made about $11 million in receivers' fees and disbursements as it works to wind up seven failed finance companies, according to documents lodged with the Companies Office.

With some of the receiverships likely to drag on, PwC is well-placed to continue to reap the rewards of untangling the companies’ affairs.

The lion’s share of this comes from the $3.27 million charged for Provincial Finance, which marked the start of the sector’s collapse.

This will likely be superseded by Bridgecorp, which was at $2.87 million at the September update last year.