Hey refer to my blog of 1 May this year. Dont forget Bridgecorp is not a property development company as described in the media. It is a mortgage lender! The seventh largest finance company in New Zealand. It lends on first, second, third , fourth and yes fifth mortgages on property. Do you think in those circumstances that people are going to recover their money.The longer it takes to sell the properties some of which are just bare land in other words development mortgages the greater the financial carnage is going to be. This is the biggest corporate collapse in NZ since 1990. My advice to investors is to start legal proceedings now against the Auditors and the Trustee. Short of that I expect losses of at least $200 million. It will take some time to work out whether there is any criminal fraud involved. Dont believe what you read in the Herald about this situation.This is serious. Remember to that Bridgecorp would be heavily involved in the apartment development market. Just look at the situation in Florida to see what the future will hold for that market in New Zealand.