Companies associated with Blue Chip’s New Zealand franchisee have gone into liquidation, leaving the financial future of thousands of investors up in the air.
In Australia, Blue Chip Financial Solutions shares have been placed in a trading halt on the ASX until tomorrow.
Auckland insolvency specialist Jeff Meltzer said that he had now been appointed to more companies associated with Blue Chip.
He was already liquidating three Blue Chip property management and rent collection companies but has now taken control of 16 other companies associated with Blue Chip.
Meltzer said neither Blue Chip’s New Zealand master franchise company Diem Ltd nor Blue Chip Financial Solutions, its Australian-listed parent company, had gone into liquidation.
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