213:
Rod
Petricevic, former chairman Bruce Davidson, Rob Roest, Gary Urwin and Peter Steigrad were charged in July 2007 after Bridgecorp went into receivership. Petricevic sought legal aid to pay for his legal bills, but it was denied on the grounds that he remained a trustee of a family trust with access
193:
In 2004, Bridgecorp
Holdings began trading at Unlisted, a New Zealand-based trading facility. In 2006 the group began reporting the results of the Bridgecorp Limited subsidiary to Unlisted, when it was actually the parent company, Bridgecorp Holdings, whose shares were being traded. In the following
181:
The company was originally listed on the New
Zealand stock exchange as Bridgevale Mining and changed its name in 1987, the same year it acquired Toy Warehouse. Bridgecorp Holdings was delisted after the toy company—considered underperforming—was sold in 1992 and went into receivership the same year.
264:
filed a civil action in the High Court at
Auckland for $ 442 million against three of the former directors for "breach of directors' duty". Rod Petricevic, Rob Roest, Peter Steigrad, Gary Urwin and Bruce Davidson were named in the suit. As Petricevic and Roest have been declared bankrupt, they are
256:
years in jail by
Justice Venning. His lawyer, Paul Dacre, had asked Justice Venning for a lower sentence than Petricevic's due to undisclosed family issues and the fact Petricevic was the ultimate "boss" of Bridgecorp. This was again denied with the judge stating that Roest had not shown proper
238:
years in jail by
Justice Venning. His lawyer, Charles Cato, had argued for a lower sentence due to Petricevic's age and the effect the trial and conviction had had on his family. Justice Venning dismissed the request stating that he was not convinced the remorse shown by Petricevic was genuine.
26:
194:
three years, the company attracted more than 18,000 investors from both
Australia and New Zealand with promised return rates between 9 and 11 per cent a year. In August 2006 Bridgecorp Finance was banned from raising money from existing investors by the
214:
to considerable wealth. On 5 April 2012 Petricevic, Roest and
Steigrad were found guilty of making untrue statements in their investment prospectuses. Urwin and Davidson had earlier pleaded guilty to all charges.
274:
953:
908:
958:
928:
257:
remorse. On the same day Peter
Stiegrad was sentenced to nine months' home detention, ordered to complete 200 hours of community services and pay $ 350,000 in reparation.
918:
643:
195:
653:
628:
607:
913:
514:
948:
703:
933:
206:
Bridgecorp collapsed in 2007 with most of the
Bridgeport companies being placed in receivership afterwards. At this time the company owed 14,500 investors
638:
923:
302:
339:
182:
Rod Petricevic effectively took control of Bridgecorp after it was delisted. He tried several times to relist the company, but was rejected by the
938:
943:
682:
190:, Australia. Bridgecorp Limited served as a subsidiary for New Zealand while Bridgecorp Finance Ltd was established as its Australian arm.
600:
217:
On 17 April 2012 Gary Urwin was sentenced to two years in jail. Although Urwin had asked for sentence of home detention, Justice
728:
766:
677:
593:
571:
462:
723:
718:
708:
807:
585:
210:
467 million. Graham Miller of the Covenant Trustee Company was appointed trustee for the group following its collapse.
837:
751:
522:
862:
545:
746:
648:
488:
436:
410:
872:
713:
812:
633:
365:
776:
381:
344:
198:. The commission had issued warnings of "solvency issues" concerning the group as early as December 2005.
887:
771:
687:
786:
661:
155:
131:
114:
265:
exempt from the legal proceedings. This is one of the largest civil claims in New Zealand history.
842:
25:
796:
186:. In 2002, Bridgecorp Holdings was deregistered in New Zealand and moved its headquarters to
882:
857:
832:
158:
36:
307:
218:
902:
802:
791:
170:
70:
781:
756:
162:
102:
867:
822:
817:
138:
166:
87:
827:
847:
877:
852:
616:
Business institutions, stock exchanges, and associations in Australia
187:
81:
589:
261:
183:
118:
207:
515:"Petricevic sentenced to six and a half years' jail"
737:
696:
670:
621:
137:
127:
108:
94:
76:
66:
58:
50:
42:
32:
644:Australian Securities & Investments Commission
275:Finance company collapses, 2006–2012 (New Zealand)
629:Australian Competition & Consumer Commission
242:On 18 May 2012, Rob Roest was also sentenced to
196:Australian Securities and Investments Commission
224:On 26 April 2012, Petricevic was sentenced to
704:Australian Chamber of Commerce & Industry
601:
463:"All three Bridgecorp directors found guilty"
375:
373:
296:
294:
292:
290:
8:
954:Real estate companies disestablished in 2007
18:
909:Financial services companies of New Zealand
366:NZ Companies Office - The Toy Warehouse Ltd
639:Australian Prudential Regulation Authority
608:
594:
586:
24:
17:
959:Real estate companies established in 1994
929:Defunct investment companies of Australia
919:Holding companies disestablished in 2007
546:"Roest gets six-and-a-half years' jail"
489:"Bridgecorp: Ex-director Urwin jailed'"
286:
838:Price fixing in the packaging industry
404:
402:
333:
331:
329:
327:
325:
914:Holding companies established in 1994
572:"Bridgecorp trio facing $ 442m claim"
437:"Petricevic's legal aid bid 'a joke'"
411:"Petricevic Porsche sells for $ 150K"
7:
949:Real estate companies of New Zealand
683:National Stock Exchange of Australia
570:Manning, Brendan (27 October 2012).
340:"Read the small print or get burned"
303:"Bridgecorp crashes, $ 450m at risk"
221:said this would not be appropriate.
934:Real estate companies of Australia
487:Fletcher, Hamish (17 April 2012).
14:
792:James Hardie asbestos controversy
435:Gregor, Kelly (19 January 2011).
924:Defunct companies of New Zealand
513:Bond, Georgina (26 April 2012).
382:"Bridgecorp back on funds trail"
123:Bruce Davidson (former chairman)
655:Constitution of Australia, 1901
380:Klan, Anthony (12 April 2007).
939:Holding companies of Australia
799:and his self-owned restaurants
767:Camperdown Dairy International
678:Australian Securities Exchange
461:Mace, William (5 April 2012).
409:Slade, Maria (12 March 2009).
1:
944:Defunct real estate companies
724:Minerals Council of Australia
719:Business Council of Australia
709:Australian Hotels Association
544:Mace, Willian (18 May 2012).
338:Gaynor, Brian (7 July 2007).
301:Klan, Anthony (3 July 2007).
729:National Farmers' Federation
975:
747:Adelaide Steamship Company
649:Australian Takeovers Panel
873:Virgin Australia Holdings
714:Australian Industry Group
260:In October 2012 receiver
23:
863:Teachers' Credit Society
813:Masters Home Improvement
657:(Cth) corporations power
634:Australian corporate law
519:National Business Review
777:Firepower International
738:Corporate controversies
152:Bridgecorp Holdings Ltd
19:Bridgecorp Holdings Ltd
576:The New Zealand Herald
493:The New Zealand Herald
441:The New Zealand Herald
415:The New Zealand Herald
345:The New Zealand Herald
161:that was operating in
145:Bridgecorp Finance Ltd
697:Business associations
688:Sydney Stock Exchange
787:Great Southern Group
662:Economy of Australia
156:property development
132:Property development
772:Dick Smith Holdings
762:Bridgecorp Holdings
169:. It was placed in
20:
843:Offset Alpine fire
143:Bridgecorp Limited
896:
895:
797:George Calombaris
149:
148:
46:Bridgevale Mining
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610:
603:
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580:
579:
567:
561:
560:
558:
556:
541:
535:
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525:on 27 April 2012
521:. Archived from
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154:was a high-risk
28:
21:
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973:
969:
968:
967:
965:
964:
963:
899:
898:
897:
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883:Wayne Mansfield
858:Storm Financial
833:Poseidon bubble
739:
733:
692:
671:Stock exchanges
666:
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614:
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583:
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5:
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386:The Australian
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321:
308:The Australian
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219:Pamela Andrews
203:
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173:in July 2007.
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115:Rod Petricevic
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13:
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2:
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849:
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839:
836:
834:
831:
829:
826:
824:
821:
819:
816:
814:
811:
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808:King Brothers
806:
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803:HIH Insurance
801:
798:
795:
793:
790:
788:
785:
783:
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778:
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773:
770:
768:
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763:
760:
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748:
745:
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742:
740:and collapses
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35:
31:
27:
22:
16:
761:
654:
622:Institutions
575:
565:
553:. Retrieved
549:
539:
527:. Retrieved
523:the original
518:
508:
496:. Retrieved
492:
482:
470:. Retrieved
466:
456:
444:. Retrieved
440:
430:
418:. Retrieved
414:
389:. Retrieved
385:
361:
349:. Retrieved
343:
312:. Retrieved
306:
259:
241:
223:
216:
212:
205:
202:Receivership
192:
180:
171:receivership
151:
150:
139:Subsidiaries
77:Headquarters
71:Receivership
33:Company type
15:
782:Forum Group
550:Stuff.co.nz
163:New Zealand
103:New Zealand
96:Area served
43:Predecessor
903:Categories
868:Timbercorp
823:Opes Prime
818:Network 10
446:19 January
351:26 October
281:References
110:Key people
888:Westpoint
167:Australia
100:Australia
88:Australia
828:Pasminco
529:26 April
498:17 April
269:See also
128:Services
117:(former
848:One.Tel
472:5 April
420:23 July
391:23 July
314:23 July
251:⁄
233:⁄
177:History
59:Defunct
51:Founded
37:Private
878:WA Inc
853:Qintex
752:Ansett
555:18 May
188:Sydney
82:Sydney
467:Stuff
159:group
557:2012
531:2012
500:2012
474:2012
448:2011
422:2009
393:2009
353:2020
316:2009
165:and
67:Fate
62:2007
54:1994
757:BBY
262:PwC
208:A$
184:NZX
119:CEO
905::
574:.
548:.
517:.
491:.
465:.
439:.
413:.
401:^
384:.
372:^
342:.
324:^
305:.
289:^
85:,
609:e
602:t
595:v
578:.
559:.
533:.
502:.
476:.
450:.
424:.
395:.
355:.
318:.
253:2
249:1
246:+
244:6
235:2
231:1
228:+
226:6
121:)
Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.
