I was thinking it is blatantly obvious our Fund has been bled dry with approx only 5 cents per unit having been returned to unit holders and no prospect of any further returns. The PIF was worth in excess of $400 million (without any compensation) when WELLINGTON CAPITAL LTD took control of the Fund. If found negligent, KPMG will be responsible for a certain percentage of loss of capital and should have to pay the same percentage of loss of income/interest on individual unit holders investment supposedly as at Oct 2008. Should this be the outcome, if I was KPMG who may have to compensate us also for the losses made to date under the management of all others involved since the collapse of Octaviar I would be looking for answers as to where the money has gone and who was responsible for such losses after Octaviar collapsed!!! A percentage of capital loss of approx 95 cents per unit as they are worth nothing now and also 5 years of lost income will be a substantial amount in the event KPMG have to pay compensation.
- Forums
- ASX - By Stock
- class action hypothetical kpmg
OCV
octaviar limited
I was thinking it is blatantly obvious our Fund has been bled...
Featured News
Add to My Watchlist
What is My Watchlist?
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
Currently unlisted public company.
The Watchlist
RC1
REDCASTLE RESOURCES LIMITED
Ron Miller, Non-Executive Director
Ron Miller
Non-Executive Director
Previous Video
Next Video
SPONSORED BY The Market Online