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Cash for some Access clients

Monday 13th of September 2004

Liquidator Michael Stiassny said last night that he expected $13 million held in UDC Finance accounts to be available today.

That left $34 million frozen in BNZ accounts.

Stiassny said: "BNZ accounts have a different structure and we are continuing to work on that issue."

The total of $47 million is $4 million more than previous indications.

UDC accounts were used to hold Australian dollars for Access clients.

Access - which is controlled by former Olympic Committee chief Bill Garlick - yesterday appointed Stiassny and Brendon Gibson as liquidators, expanding their previous powers as interim liquidators.

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