St Laurence investors get 3c
Receivership winding down three years after finance company entered moratorium.
Investors in collapsed financier St Laurence will receive a 3c in the dollar payment in September.
St Laurence went into moratorium in June 2008 owing $240 million to 9000 debenture holders.
The payment follows earlier disbursements totalling 19c in the dollar.
Receiver Deloitte says in its most recent report the loan recovery process is winding down and the largest remaining outstanding loan tied up with a series of industrial properties near Sydney.
Matt Nippert
Wed, 31 Aug 2011
Wed, 31 Aug 2011
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
St Laurence investors get 3c
16674