Collapsed broker's 1.47m shortfall '54 recoverable'

Wed, Dec 15th 2010, 10:00 PM

By NEIL HARTNELL

Tribune Business Editor

The liquidator of a collapsed Bahamas-based broker/dealer has determined that 54 per cent of a $1.47 million shortfall, which is in excess of the $25 million loss that caused the company's failure, can be recovered, pledging that he wanted the winding-up to come to an end "as much as" the fiduciary clients.

Anthony Kikivarakis, the Deloitte & Touche (Bahamas) accountant and partner, in his fifth report to the Bahamian Supreme Court as the liquidator for Caledonia Corporate Management, said he would have to seek the court's directions on how the shortfall should be handled - whether it should be borne only by clients who had assets ...

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