Investors in Bridgecorp will get back another 4.5 cents in the dollar, receivers of the failed finance company say.
Receiver Colin McCloy of PwC said that a second interim dividend of $20.6 million, bringing total repayments to 8 cents in the dollar, would be paid next month.
Further distributions would depend on the outcome of legal proceedings against Bridgecorp's directors and other parties, McCloy said.
“With the Financial Market Authority's criminal proceedings against the directors having now concluded, the receivers' civil claim, which was filed in January 2012, is now proceeding through the court.”
Earlier this month former Bridgecorp boss Rod Petricevic pleaded guilty to four charges brought by the Serious Fraud Office in relation to a 19-metre luxury yacht . In exchange the SFO dropped other charges.
Petricevic was sentenced to four months' jail, to be served in addition to the six-year sentence he received in April after being found guilty of misleading Bridgecorp's investors in a case brought by the FMA.
Former Bridgecorp directors Bruce Davidson, Gary Urwin, Rob Roest and Peter Steigrad have also been convicted of offences relating to the finance company's failure.
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