Creditors give Australian Bridgecorp directors a chance

The Dominion Post reported today that creditors voted at a closed creditors' meeting in Sydney on Tuesday to give directors, including managing director Rod Petricevic, time to prepare a deed of company arrangement.

A spokesman for administrator PricewaterhouseCoopers said generally such deeds were intended to structure affairs to give creditors a better return than if a company was liquidated.

The terms of the Bridgecorp deed were not yet known as the directors had not started preparing it.

For more of the week's top news stories for financial advisers. Visit www.goodreturns.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

KMD completes Placement and Institutional Entitlement Offer
SML - North Island asset sale completed
RAD - Radius Care Expansion Continues with Care Home Acquisition
PFI - Property for Industry Limited Bond Offer Final Terms Sheet
April 1st Morning Report
FSF - Fonterra completes sale of Mainland Group to Lactalis
GNE - Resignation of Chief Financial Officer
PFI - Property for Industry Limited Launches Bond Offer
March 30th Morning Report
HGH Ltd Results for the 6 months ended 1 February 2026