Wickham Securities documents sought by lawyers Lawyers acting for retirees who lost their life savings when a Brisbane-based investment fund collapsed will head to the courts as they try to recoup millions of dollars. Shine Lawyers will file an application in the Federal Court on February 13, with the firm seeking access to financial documents held by Wickham Securities" trustee company, Sandhurst Trustees. Wickham Securities was placed in liquidation in February 2013, leaving more than 300 self-funded retirees in the lurch and about $27 million out of pocket. Shine head of professional negligence Jan Saddler said a class action with more than 80 participants could proceed if they were able to obtain evidence showing Sandhurst failed in its obligations as trustee. They want to investigate if Sandhurst breached Section 283 DA of the Corporations Act, because the company was required to "exercise reasonable diligence" to ascertain whether Wickham could repay investors. A spokeswoman for Sandhurst Trustees, which is owned by the Bendigo Bank and Adelaide Bank, declined to comment. Ms Saddler said previous requests to Sandhurst for the documents had been rejected. However, any potential class action won't commence for at least 12 months, and Ms Saddler said Shine would hold an open meeting to update burned Wickham investors on February 18. Last year, Wickham investors were told they may only receive 6 cents for every dollar owed. But Ms Saddler said she hadn't spoken to anyone who had seen a cent. "The typical investor was someone who had just retired from the workforce, who had worked incredibly hard to build up a nest egg," she said. They've been left high and dry in their 60s, 70s and 80s. They're beyond disappointment, they're just bereft and most of them have no money. In September, Wickham chairman Brad Sherwin was handed a 31-month ban from operating in financial services by the Australian Securities and Investments Commission.