Clients of collapsed brokerage CA Pacific Securities have slammed the company's liquidator, saying it has failed to protect their interests. A group of enraged clients yesterday complained that Denis Ho and Jan Blaauw of PricewaterhouseCoopers had been dragging out the liquidation process unnecessarily. The group rejected the move to have a court decide clients' entitlements, in a five-day hearing that will begin today. 'The court case is going to be a long-term legal battle and that will further delay the liquidation process,' client representative Yuen Chan-ming said. 'The longer the liquidation takes, the more money will be spent on the liquidator's fee, leaving little money for the creditors.' He said the liquidator had yet to disclose its charges and had not communicated with clients. Client representative Chu Tai-wa said the liquidator should not divide the clients into two priority groups. 'All clients of CA Pacific should get the same treatment. There is no need to divide the clients into two groups.' Representatives urged the liquidator to divide the brokerage's remaining shares among the clients proportionally according to the amount of their claims. The clients also claimed there was a conflict of interest as the liquidators had audited the brokerage before it collapsed. The liquidators rejected all the allegations, claiming they had no conflict of interest. They insisted the court case was a necessary step before shares could be returned to clients. Mr Ho said: 'The liquidators have at all times . . . treated clients fairly and equally. 'Before the liquidators can commence making a return to creditors we must know whether former clients in principle have a proprietary claim to shares held by the companies or only a contractual claim. 'That issue is set to be resolved in a High Court hearing.' CA Pacific and its margin financing arm collapsed in January, owing 10,000 clients $1.4 billion worth of shares. It had only $900 million in shares on hand.