Crown, investors to claw back another $35M from Equitable Mortgages receivership

Fri, 17 Aug 2012

By Paul McBeth Aug. 17 (BusinessDesk) - Investors are set to receive $35 million from the receivers of failed lender Equitable Mortgages in the third payment since debenture holders were bailed out through the Crown's retail deposit guarantee scheme almost two years ago. KordaMentha's Grant Graham flagged a third distribution payment will be made today, taking total repayments to $85 million, or 44 percent of the principal, according to the latest receiver's report. He kept his forecast recovery at between 65 percent and 70 percent of the $1...

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