The restructure of the suspended EEA Life Settlements fund has been postponed until the regulator receives the company's delayed audited accounts for 2012.
Last month, 65% of investors in the company voted for a restructure that could see the value of their investments reduced by up to 10%.
But the Guernsey Financial Services Commission, which regulates the fund, has now said the restructure and reopening of the fund will not be able to take place until EEA provides audited accounts for 2012.
Those accounts have been delayed owing to a disagreement between the firm and former auditor Ernst & Young.
In July, E&Y released a damning report saying it "was not able to obtain sufficient appropriate audit evidence to provide a basis for an audit opinion", and arguing EEA's valuation of the fund at $871m had been inflated by $100m.
"The new auditors were appointed on 29 August 2013 and, with the assistance of the board of directors of the fund, are proceeding with the audit of the 2012 accounts," EEA said in a statement.
"The board and the fund's investment manager will work with the commission to provide this information as soon as possible."
The fund was suspended on 30 November 2011 due to "unprecedented" levels of redemption requests after the regulator announced that it would seek to ban the sale and marketing of traded life policy investments to retail investors - which it did this year.
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