Perpetual Trust is expected to make an announcement this afternoon about the fate of Strategic Finance.

Trustee Matthew Lancaster gave the troubled finance company until last Friday to come up with its best proposal on a debt-for-equity swap and has been considering the deal since then.

This morning, he told NBR he would release details of the decision mid-afternoon.

Detail of the proposed deal has kept many people guessing. The deal has been considered against the only other option for the company – receivership.