Debt chase of Blue Chip directors grinding to a halt
The debt chase of Blue Chip directors looks likely to grind to a halt due to lack of funding.
Liquidators unravelling what is left of Blue Chip – the Sydney-based Northern Crest Investments – had a win at Auckland High Court this week when they were unshackled from a long-running challenge to their appointment.
PKF Corporate Recovery was appointed by the court as liquidators of Northern Crest in June 2011.
Their appointment was soon challenged by Australian fund manager and Northern Crest creditor Manifest Capital, which applied to have them removed.