PGC - Licenced to Bank

[Grantas]

http://www.nzherald.co.nz/business/n...ectid=10820076

and it goes on ....and on.

[Breastwork]

More movement of HNZ shares this a.m.
More debt repayment?

[Xerof]

Banks usually take down the umbrella when it starts raining.....it's raining cats and dogs at PGC isn't it?

[Grantas]

Hmmm..
The other article by Shoeshine questions why George Kerr is so desperate for cash that he breached Perpetual's trust deed to get at the cash, and then, mounted a legal challenge to try and conceal it from the public arena.
Reckons there could be other skeletons in the cupboard waiting to be discovered.

What interests me is who has invested in the Torchlight Funds .. and how patient are they?

[Breastwork]

What interests me is if they are questioning is the management structure (fee gouging) the same as EPIC, the transparency the same as PGC and the governance the same as Perpetual!?

[Grantas]

http://www.stuff.co.nz/business/opin...ses-rogue-loan

[Xerof]

More to the point, will they still hold a license beyond a few months?

So yes belg, it will more likely either be wound up, or sold to a reputable third party?

[Balance]

More to the point, will they still hold a license beyond a few months?

So yes belg, it will more likely either be wound up, or sold to a reputable third party?

The Perpetual management will be nuts to buy the business - unless it is just the wealth management business. Imagine the potential liabilities (over the finance company collapses) hanging over Perpetual's trustee company now that it is shown to be a conflicted incompetent unit?

[janner]

surfersteve says..

" pgc is deed money and the company is now what? insolvent? "..

Is it ??..

Not that it going to worry me .. The old adage.. Never invest more than you can afford to lose..

My holding is small.. Hopefully it was my holding out and others like Belg.. that brought this to a head..
Due to GK not being able to take full control..

Maybe he will be able to play " SNAP " with Rod Petr. :-))

[Grantas]

http://www.sharechat.co.nz/article/6...7-9m-sale.html