FMA secures interim asset preservation orders over PTT

FMA secures interim asset preservation orders over PTT Limited and Steven Robertson

The Financial Markets Authority (FMA) has obtained interim asset preservation orders over the assets of PTT Limited, Steven Robertson and associated entities, from the High Court in Auckland. This is part of an ongoing investigation into PTT Limited. The FMA has concerns that client funds may be at risk and the company may be operating in breach of financial market legislation. Neither Mr Robertson nor PTT is registered on the Financial Services Provider Register.

The High Court has also granted the FMA’s application appointing John Fisk and David Bridgman of PwC as receivers and managers of PTT Limited and six other associated entities, on a limited basis.

Mr Fisk and Mr Bridgman have been granted powers to identify and preserve any funds and assets of PTT Limited (in receivership) and the names of clients. The receivers will provide a report updating the Court and the FMA on the steps they have taken and the current status of their work, by 3 September 2015. The receivers will contact any known clients.

The FMA encourages any client of PTT Limited to register with PwC and provide their contact details (phone, email and postal address) and evidence of any funds paid to PTT Limited.

Clients can contact PwC on the PTT Limited dedicated telephone message line +64 (09) 355 8023, via its dedicated page on the PwC website, facsimile +64 (09) 355 8013, or by mail PTT Limited (in receivership), c/- PwC, Private Bag 92162, Auckland.

The FMA also requests that any clients that have already contacted the FMA should also contact PwC.

The FMA cannot comment further at this stage to protect the integrity of the investigation, but will provide further information as soon as we are able.

Any person with information about PTT Limited is encouraged to go to the FMA’s website where investors can use the online complaint form to provide information, or call the FMA helpline: 0800 434 567.

ENDS

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