Directors of Provident Capital may have to defend claims from liquidators PPB Advisory."Strong claims exist against the directors" for "breaching their duties of care and diligence," PPB said in their report for the year to June 2014.In 2013 the former managing director Michael O'Sullivan and three other board members, John Sweeney (a former CEO of Orix), Malcolm Bersten (the in-house lawyer) and Trevor Seymour (a director of Brentnalls NSW, the chartered accountants) were summonsed to the Supreme Court of New South Wales.Provident, now in liquidation, failed in mid-2012 owing A$125 million to more than 3000 investors.The best estimate is for a return is 19 cents in the dollar on senior debentures. $26 million in assets (ie, loans) remain, all extended to troubled borrowers.Investors in more secure Provident Funds, including Bendigo Bank, are getting 100 cents in the dollar.