Dixon Advisory’s administrators have told the failed group’s creditors – all of whom are current and former clients in its ASX listed US property fund – to back a deed of company arrangement that would result in them receiving as little as 3.1¢ on the dollar.
The administrators of Dixon Advisory & Superannuation Services Pty Ltd, Stephen Longley and Craig Crosbie of PwC, issued the 268 -page report late on Tuesday to DASS creditors before the second meeting due to take place on December 7.
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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
