Russ Goodear has been named chairman of the Banksia Investors Support Group.
SOUTH-WEST Banksia Investors Support Group convener Russ Goodear has been appointed to a Victorian committee that will put the concerns of investors to receivers.
Mr Goodear, a Warrnambool businessman and Banksia investor, is one of up to 10 people from throughout the state appointed to the committee by Banksia’s receivers, McGrathNicol.
He said he looked forward to representing south-west Banksia investors “in these very difficult and uncertain times”.
“I invite people to contact me regarding issues and concerns they would like me to raise with the receivers,” Mr Goodear said. “People can contact me on 0402 127 077.”
He said the committee had been formed after McGrathNicol agreed to a request by a number of investors for such a representative group. Mr Goodear said while the committee had no formal powers to approve or reject the receivers’ decisions, it would act as a useful “sounding board” for the receivers about their decisions.
He said the first meeting of the committee with the receivers would be on Wednesday, March 27, in Melbourne.
He expected the committee would receive an update at the meeting about the receivers’ latest actions.
“I expect they (the receivers) will be updating us on the current status of their efforts to sell the Banksia loan book and on the whole next step.”
Mr Goodear will represent the interests of people from throughout the south-west, including the Warrnambool, Portland and Hamilton districts.
McGrathNicol partner Matthew Caddy said he expected the investors’ committee would receive reports from the receivers “from time to time”.