The founder of Perth-headquartered NWQ Capital Management owed the hedge fund more than half a million dollars before its collapse and has told liquidators the loan cannot be paid back.
NWQ – which had former Reserve Bank governor Glenn Stevens on its investment committee – collapsed owing a little under $20 million to creditors, according to an update to creditorssent last week.
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Max Mason covers financial crime, courts and corporate wrongdoing. A Walkley Award winner, Max’s journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
