Investment firm collapses following cessation order

A Dublin investment company that managed over €15 million in client money has collapsed and is to be placed into liquidation.

20th May, 2006

A Dublin investment company that managed over €15 million in client money has collapsed and is to be placed into liquidation.

Broadstone Fund Management, which was ordered by the Financial Regulator to withdraw from the investment business in March, will be wound up at a meeting of the firm’s creditors on May 30.

The move is a blow to the company’s clients, who had invested significant amounts of money in its hedge funds. The...

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