Brexit bomb’s political reverberations, PGC, Macquarie and $A30m, Ross investor mulls legal action

In NBR Print today: If Brexit is a case of turkeys voting for an early Christmas, where is the upside? Will the Dad’s Army bungling finally win through? These are questions investors are asking and the answers aren’t certain, as they depend on politics in a power vacuum, Nevil Gibson writes.

Meanwhile, where was David Cameron’s Plan B? asks Michael Coote, while Rob Hosking looks at the political ramifications and the Brexit’s effect on the economy.

A Ross Asset Management investor is mulling taking his own legal action to recover the money he lost nearly four years ago as liquidators await a near $90-million Supreme Court date. Hamish McNicol investigates what this could mean for other financial victims.

Big Aussie financial firm Macquarie has been pinged by regulators for letting $A30 million of investor money go AWOL but where did the cash go? Tim Hunter delves into the murky world of NZX-listed Guernsey company Pyne Gould Corporation [NZX: PGC] run by George Kerr, whose shares have just resumed trading after an eight-month suspension.

Prime Minister John Key’s government has had a horror month and the National Party goes into its annual conference this weekend needing something to break the circuit of bad or embarrassing news, writes Rob Hosking in Order Paper.

Equity crowdfunding is inherently risky and, to reflect that, companies may only raise up to $2 million from retail investors each year. But some in the market want the cap to be increased, particularly equity crowdfunding platforms. Calida Smylie reports.

As members of New Zealand’s legal fraternity debate its ultimate significance, the Supreme Court’s Clayton versus Clayton decision has plunged liquidator Damien Grant into an existential crisis.

From the perspective of both public policy and his political philosophy, Mr Grant considers it an “a stunningly activist decision,” one that appalls him to his core.

Start-up Electric Kiwi is trying to outsmart its competitors by offering metered traditional constant pricing and also any 60 minutes of off-peak power free. Chris Keall reports.

As other building companies wither, NZ Force Construction, started at the end of last year, has four years' work in front of it.  The company was started by developer Sky Cai and seasoned construction managers Geoff Grbin and Hylton Wyndham when Mr Cai couldn’t get head contractors on one of his projects. Sally Lindsay reports.

All this and more in today’s NBR Print Edition. Out now. 

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