Kerr claims win in Torchlight case

Aurora Funds Management, Crown Asset Management and ACC had petitioned to have the Torchlight entity would up because they had lost faith in Pyne Gould (PGC)’s George Kerr as manager of the $250 million fund.

They alleged related-party transactions involving Kerr's interests were damaging to the fund and that there was a lac of audited accounts for the 2013 year.

They reached a deal to exit the fund before the judgment was released.

But PGC Managing Director George Kerr said the judgment represented a complete vindication of the Torchlight Fund, its performance, and its management.