LDC Finance secured investors to get their money back

Mon, 29 Jul 2013

July 29 (BusinessDesk) - Secured investors in failed lender LDC Finance will get their money back plus some interest after the replacement receivers reached a settlement with the firm’s majority owners. About $4.9 million will be paid to 468 secured investors after LDC’s receivers David Ruscoe and Richard Simpson of Grant Thornton sold the firm’s remaining assets and reached a settlement with Finance & Investments Partnership, an entity operated by LDC’s majority owners Andrew Harding and Murray Schofield. Simpson and Ruscoe were appointed...

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