CA Pacific payout seen

PUBLISHED : Saturday, 06 March, 1999, 12:00am
UPDATED : Saturday, 06 March, 1999, 12:00am

Clients of collapsed brokerage CA Pacific could receive a return from liquidators within three to six months.

The timing would depend on the recovery of shares from banks, agreement on client balances and court confirmation, liquidators PricewaterhouseCoopers said.

Partner Jan Blaauw said yesterday the firm had been given the green light to proceed with the necessary court applications for the determination of claims.

The liquidators face claims from about 10,000 CA Pacific clients amounting to $1.4 billion. Shares held by the brokerage were valued at only about $900 million when it collapsed in January last year.