Blue Chip liquidators "delighted" with Bryers offer
Nineteen companies associated with the property investment company have gone into liquidation, leaving thousands of investors in the dark about millions of dollars invested. The Commerce Commission is investigating whether there were any breaches of the Fair Trading Act, and the Serious Fraud Office is also investigating.
Jeff Meltzer, of liquidators Meltzer Mason Heath, welcomed Blue Chip founder Mark Bryers' offer to launch a compensation fund of up to $25m from his own property developments.
"I don't know the full level of the total debts, but in Mark Bryers' estimate in his view, that would ensure that everyone is fully paid," Meltzer said.
"That's his opinion, I can't comment on that, but obviously it's a significant and substantial amount of money that I'd be delighted to get my hands on."
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
![[The Wrap] What the heck is happening at the FMA?](https://goodreturns.publit.io/file/c_fill,w_300,h_200/a6c3bc06-6401-44de-96e2-286c090e132d.jpg)