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Strategic Finance liquidators work on selling property assets

Debenture holders of failed finance company Strategic Finance should find out this week if and when funds will be paid back to them.Receivers John Fisk and Colin McCloy from PricewaterhouseCoopers indicated in early May they would be able to provide an up

Liam Baldwin
Mon, 02 Aug 2010

Debenture holders of failed finance company Strategic Finance should find out this week if and when funds will be paid back to them.

Receivers John Fisk and Colin McCloy from PricewaterhouseCoopers indicated in early May they would be able to provide an update to debenture investors by the end of July.

However, they now indicate that several property transactions under way this week have led to a delay in reporting.

“Subject to these property transactions occurring as scheduled, we expect to be able to announced the timing and quantum of the first interim distribution to secured debenture investors,” the receivers said on the PwC website.

The receivers were not contactable by phone this afternoon.

Strategic was placed in receivership in March owing $417 million to about 13,000 investors.

Late last month it was placed into liquidation following an application by its trustee Perpetual Trust.

Liam Baldwin
Mon, 02 Aug 2010
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Strategic Finance liquidators work on selling property assets
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