Banksia investors hope for full $64 million payout by end of the year after Court of Appeal confirms amount

Adam Holmes
Updated November 2 2018 - 10:58am, first published 10:45am
Rural non-bank lender Banksia Securities collapsed in 2012 owing $600 million to 16,000 investors. Its merger with Statewide in 2009 was the precursor to the company's failure.
Rural non-bank lender Banksia Securities collapsed in 2012 owing $600 million to 16,000 investors. Its merger with Statewide in 2009 was the precursor to the company's failure.

FORMER Banksia investors are hopeful a $64 million settlement reached against company directors, auditors and the Trust company will flow to creditors by the end of this year after the Court of Appeal confirmed the amount this week.

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Adam Holmes

Adam Holmes

Journalist at The Examiner and Advocate, Tasmania

From Adelaide to south-west Victoria, Bendigo to Tasmania, I've provided in-depth stories in politics, environmental affairs, issues facing disadvantaged communities, legal affairs and much more. Contact me at adam.holmes@examiner.com.au or on Twitter at @adamholmes010

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