A complex legal battle over the assets of Dixon Advisory has begun as an administrator warns that as many as 5000 of the failed self-managed super fund advisory firm’s clients may have a claim against it.
The current and former clients face a wait of up to six months for any resolution of their claims – many of which were filed years ago – after the voluntary administrators said they would probably seek a lengthy extension for a second creditors meeting because of the highly complex nature of the situation.
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Carrie LaFrenz is a senior journalist covering retail/consumer goods. She previously covered healthcare/biotech. Carrie has won multiple awards for her journalism including financial journalist of the year from The National Press Club. Connect with Carrie on Twitter. Email Carrie at carrie.lafrenz@afr.com
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
