Business Services Industry
Westpoint grilling for ASIC chiefs.
Australasian Business Intelligence, February, 2006
Byline: Neale Prior
Feb 07, 2006 (The West Australian - ABIX via COMTEX) -- The Australian Senate's Estimates Committee will question officials of the Australian Securities & Investments Commission (ASIC).
At issue is whether the watchdog acted quickly enough in protecting investors in the mezzanine schemes of failed property development and investment group Westpoint. Data by Ferrier Hodgson and PricewaterhouseCoopers, the administrators of
collapsed Westpoint entities, indicate at least $A360m invested by about 4,000 Australians may be at risk. Real estate
investor advocate Denise Brailey has joined litigation funder IMF in preparing a class action...
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