The Action Group has been shocked by the revelation that Duff & Phelps have been appointed as advisers to the Fund and are paid from investors’ monies in the Fund.
Our questions are:
- Why is not Connaught or Tiuta or Blue Gate Capital paying for the advice of Duff & Phelps?
- Surely the persons responsible for the alleged mismanagement and/or alleged criminal misappropriation of the assets of the Fund should pick up the bills?
- How can the costs of Duff & Phelps be justified in terms of the objectives of the Fund?
- Surely the Fund should reclaim all monies paid to Duff & Phelps from all of those parties suspected of gross mismanagement and/or criminality?
- Will Duff & Phelps make available all of its papers to investors in the Fund and their advisers since investors have apparently paid for all of the work undertaken by Duff & Phelps?
- What are the terms of engagement of Duff & Phelps?
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Posted on August 10, 2012