AWI may pursue van Eyk losses
Australian Wealth Investments (AWI) may pursue action to recover some of the losses the company incurred as a result of the collapse of van Eyk Research.
The possibility of recovery actions has been revealed in a resignation letter from AWI chairman, Andrew Barnes, who told the board he was tendering his resignation because the investment in van Eyk had occurred during his tenure as chairman.
In that letter, revealed to the Australian Securities Exchange (ASX) today, Barnes referenced the possibility of "recourse against parties which may lead to the Company recovering some or all of the investment in van Eyk Research".
AWI held around a 37 per cent share in van Eyk valued at around $7.5 million before the research house went into voluntary administration following problems with its Blueprint funds.
Recommended for you
Licensing regulation should prioritise consumer outcomes over institutional convenience, according to Assured Support, and the compliance firm has suggested an alternative framework to the “licensed and self-licensed” model.
The chair of the Platinum Capital listed investment company admits the vehicle “is at a crossroads” in its 31-year history, with both L1 Capital and Wilson Asset Management bidding to take over its investment management.
AMP has settled on two court proceedings: one class action which affected superannuation members and a second regarding insurer policies.
With a large group of advisers expecting to exit before the 2026 education deadline, an industry expert shares how these practices can best prepare themselves for sale to compete in a “buyer’s market”.
