KEY POINTS:
Bridgecorp was still offering high commissions to financial planners in the months immediately before its collapse, according to a financial adviser.
Kapiti Coast financial adviser Chris Lee said Bridgecorp was offering up to 3 per cent commission on two-year and three-year investments in its new Compass fund, The Dominion Post newspaper reported.
Mr Lee said the commission was double what was usually paid. He said there was nothing illegal about a high commission but it was another signal that Bridgecorp was not in good shape.
Investors in the failed finance company are expected to get a letter from the receivers this week seeking confirmation of the amounts they invested.
PricewaterhouseCoopers' partners Colin McCloy and John Waller said last week they will write to secured debenture holders early this week.
About 18,000 investors and $500 million in investments are thought to be caught up in the receivership.
There is still no estimate of how much investors will get back.
Land Information NZ records list Bridgecorp boss Rod Petricevic and his wife as owners of a number of Auckland properties, though it is not known if they are owned personally or through a trust.
Brent King, a former managing director of rival finance company Dorchester, said many of Bridgecorp's lower risk assets had already been sold, leaving higher risk assets for receivers to try to realise cash from.
- NZPA
