Pyne Gould Corporation's Torchlight Fund has now fully repaid $28 million in related party loans.
The company controlled by George Kerr made the final payment of $3.5 million to another Pyne Gould owned unit, Perpetual Cash Management Fund.
Torchlight Fund borrowed $28 million dollars from Perpetual, a deal that sparked an investigation by the Financial Markets Authority into undisclosed related party transactions.
Pyne Gould says Torchlight Fund has also paid $6 million in management fees to Torchlight 1.