The judge indicated that the decision could be reviewed within 60 days after PwC has more time to fully assess the funds’ finances.
A new report for mutual fund unit holders indicates that the fund’s $ 1.43 billion loans are still pending by PwC and require “further analysis” before they can be properly classified by the recipient.
The portion of loans under consideration represents almost three quarters of the total assets of the fund in the amount of $ 1.95 billion as of April 30.
In addition to the loans in question, the report indicated that the funds had $ 270 million in cash and $ 163.3 million in loans that are being used in ongoing insolvency or other litigation. This includes loans where the borrower is either in bankruptcy or in an active litigation “which could affect recovery,” the report said.
The funds also had loans of $ 77.5 million with short maturities (three months from April 30).
The report also showed that foundations receive recurring payments (interest and / or principal payments) on their loans of about $ 231.5 million, while their $ 1.27 billion loans do not make any cash payments (and interest may continue to accumulate). …
Of the fund’s remaining assets, $ 104.7 million in loans “make special payments”; USD 78.8 million are due in the short term or represent equity positions; and, again, there is $ 270 million in cash.
In a ruling issued last week, Moravec said: “I expect that after 60 days the recipient should be able to inform the court about the portfolio review, as well as provide information regarding the reconciliation of mutual settlements. funds “.
The result of this accounting may mean that investors in different funds have different interests, which may lead to the fact that investors of individual funds need their own advice, the decree says.