Accountants throughout the country are offering an hour of their time free to help struggling Blue Chip investors.
The Companies Office has collaborated with the New Zealand Institute of Chartered Accountants to provide a freephone number for investors to seek help.
Institute chief executive Keith Wedlock said 230
members nationally had volunteered to give an hour's free advice to burned investors. He said each accountant would help up to three investors. Wedlock said that after the request went out, accountants in public practice responded quickly.
"I think our members have seen the need for help, there's a real social cost to what's gone on."
He said in an hour it was possible to grasp the key issues facing an investor, and to start suggesting how to address their situation.
"We've had one or two cases already where our members have been able to arrange for some breathing space with the people that those investors might have borrowed from."
Blue Chip investors wanting help are being asked to ring 0508 197 510.
The call centre will take their details and an NZICA member in their region will call back within 48 hours.
Commerce Minister Lianne Dalziel said the service was aimed at investors who had not yet received any professional advice, and who were creditors of the 21 Blue Chip companies in liquidation.
