PwC said it backed the DOCA because of the higher anticipated return to creditors and greater perceived certainty, and quicker process, while also providing a better outcome in terms of accessing insurance proceeds.
While various claims have been made by investors over alleged losses suffered as a result of financial advice received from DASS, by far the majority were associated with the US Masters Residential Property Fund, or URF.
The ASX-listed fund invested client funds in apartments in the New York area, charging hefty fees as it took on excessive debts to purchase more units and undertake renovations.
The report said: of the four related party investment products under the Dixon name, only the URF Equities significantly underperfo…
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