Banksia class action postponed until next year

The collapse Banksia finance company left 16,000 investors out of pocket.
The collapse Banksia finance company left 16,000 investors out of pocket.

A class action against the trustee company for the failed Banksia finance company is now scheduled to start on February 12, next year.

The principal solicitor handling the class action, Mark Elliott, of Melbourne, said the trustee company was two months late in filing its evidence‎ in the case.

Mr Elliott said the claim, which would be for more than $200 million, was now highly unlikely to settle before the trial.

Banksia had many south-west investors who lost their savings when it failed.