Debenture investors in failed finance company Strategic Finance received a further 1.5c in the dollar payment from receivers this month, taking their total recovery so far to 8.5c.
Receivers John Fisk and Colin McCloy of PWC said they continued to expect investors would ultimately get back 12-26c in the dollar of the $367.8 million owed when the company collapsed in August 2008.
At that level, debenture investors stand to lose about $272-$323m.
Investors owed a further $25m in Strategic's bonds and deposits will get nothing back.
As well as focusing on loan recoveries, receivers said they were continuing to investigate transactions of concern between February 2007 and August 2008.
''Together with our legal counsel, we are assessing those concerns with a view to deciding what legal proceedings ... may be available to us,'' they said.
In the six months period to March covered by the latest receivers' report, receiver's fees were $181,115, while legal costs were $291,980.
Loan recoveries of $2.1m were made during the period.
- ? Fairfax NZ News
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