Banksia payments will be final ones

Final: The 10 cents in the dollar payout that Banksia investors are expected to receive this year will wrap up the five-year battle to recoup their money.
Final: The 10 cents in the dollar payout that Banksia investors are expected to receive this year will wrap up the five-year battle to recoup their money.

The 10 cents in the dollar payout to investors in the failed Banksia finance company that is expected to come through this year would be the final payout, an investors group leader says.

Kyabram Banksia Debenture Holders Action Group co-founder Don McKenzie said the forthcoming payouts would lift the total return to investors to about 92c in the dollar.

Mr McKenzie said the extra money had only been gained because of court action taken by investors against Banksia’s trustee company, the Trust Company. 

He said eight cents in the dollar was likely to be paid in March with a good chance of an extra 2-3 cents in the dollar by the end of June.

Comments

Discuss "This year’s Banksia payouts will be final ones"

Please note: All comments made or shown here are bound by the Online Discussion Terms & Conditions.