CORRECT: Professional service firms gain $475k of $18 million Hanover Finance settlement

Tue, 11 Oct 2016

(Fixes ASIC budget in final paragraph) By Fiona Rotherham Oct. 11 (BusinessDesk) - Professional service fees of $475,000, the bulk of which went to Deloitte, has been paid out to help distribute the $18 million settlement reached last year between the Financial Markets Authority and directors and promoters of Hanover Finance and their insurers. Of the 16,500 investors in Hanover Finance, Hanover Capital, and United Finance, 5,500 investments made between Dec. 7, 2007 and July 23, 2008 were eligible for a payout. The settlement followed...

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