Thursday, July 5, 2007

It is also under voluntary administration – as are eight other companies in the Australian arm – under Phil Carter of PricewaterhouseCoopers (PWC).

Property loss $1bn, rising

THE Australian arm of failed New Zealand property investment group Bridgecorp and a NSW Central Coast company have joined the wave of collapses sweeping the industry. Total industry losses remain unclear - and could take months to establish - but they are believed to be well in excess of $1billion, affecting the life savings of tens of thousands of small retail investors.

Posted by chris :-)) @ 05:34 AM (327 views)
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One thought on “It is also under voluntary administration – as are eight other companies in the Australian arm – under Phil Carter of PricewaterhouseCoopers (PWC).

  • It won’t happen over here because we’ve all only borrowed 3.25 times single salary and 2.75 times joint salary. This salary is of course the average salary within the area the house is in , with a 10% deposit.

    We haven’t speculated at all – so we’ll be ok.

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