Even when much troubled Northern Crest, as it is known now, has lost $23.4 million, the Blue Chip founder Mark Bryers is confident that his company might have a future.  

At last, Bryers has provided annual accounts for the original Blue Chip parent company for the year to March 2008.

This indicates that a sum of $146.2 million during the 15-month financial period was lost by the company apart from having negative shareholders' funds of $23.4 million.

As of now, action from the Companies Office to put the firm into liquidation is being faced by Bryers, now the sole director of the company, who is also facing about 60 charges under the Companies Act.

The High Court in Auckland has set down a hearing for 8th June. The date of the financial accounts was 4th May, 2009, which have been filed with the ASX in Australia yesterday.

(Via TopNews New Zealand. Contributed by Girish Kumar Guha)