Investors in collapsed stockbroker Halifax Investment Services have failed to overturn decisions in Australia and New Zealand relating to the date of realisation of their investments which have decreased the amount they can recover in the company’s liquidation.
Approximately 1,000 investors of collapsed stockbroker Halifax Investment Services have challenged a court decision concerning the date of the realisation of their investments which decreased the amounts they could recoup from the company’s liquidation.
A referee has been appointed to examine the fees for the liquidators of stockbroker Halifax Investment Services, which collapsed in December 2018, trapping around $200 million in client funds.
The liquidators of defunct stockbroker Halifax are justified in their decision to refrain from realising existing investments over the protests of some investors, until substantive issues in the liquidation are resolved, a court has directed.
The applicants in a class action against Navra Group have dropped their case after group members settled their claims in a separate proceeding with the defunct financial planner’s liquidators.