Couple seek more money after having assets frozen

Lisa Robertson's lawyer Nathan Gedye said his client wanted the release of her wedding ring, not pictured above. Photo / iStock.

A couple whose assets were frozen amidst a regulator's probe are allowed $1000 per week for their living expenses but want access to more money.

The High Court last month froze the assets of Prosper Through Trading, those of its minority shareholder Steven Robertson and four associated entities on request of the Financial Markets Authority.

The FMA is investigating the currency and commodity trading firm and said last month that it is concerned PTT client funds may be at risk and that the company may be in breach of financial markets legislation.

A judge also appointed receivers John Fisk and David Bridgman to PTT, the associated entities and to the financial affairs of Steven and Lisa Robertson.

The couple and their family are presently allowed $1000 a week out of their assets to pay for living expenses but their Queen's Counsel Nathan Gedye applied this morning for that amount to be increased.

Confidentiality orders imposed by Justice Anne Hinton prohibit the Herald from going into any more detail, although it can be reported that mortgage payments are made on top of the $1000 per week.

Gedye said the amount of being asked for wasn't extravagant.

The QC also requested the return of some of the couple's personal items, which the FMA had seized in in "an abundance of zeal". The High Court has already returned a seized wedding ring to Lisa Robertson that was possibly worth $92,000.

Gedye also wanted the receivers to be removed from the entities and said that their costs should be paid for by the FMA.

But FMA lawyer Dale La Hood said it was a "classic case" where receivers were required both for the affairs of PTT and the related entities and the Robertsons.

It was absolutely necessary for them to continue in their role, he said, and opposed the taxpayer paying their fees.

He expressed some concern about the amount of money which the Robertsons were seeking for their weekly expenses.

Justice Hinton reserved her decision but indicated she would release it early next week.