OPI Pacific Finance debenture holders get $3.9M from Octavia 'dividend'

Wed, 20 Jun 2018

By Jonathan Underhill June 20 (BusinessDesk) - The receivers of OPI Pacific Finance have paid a further $3.9 million to out-of-pocket debenture holders after receiving a 'dividend' from the liquidators of its failed parent. The payment in April brings the total recovery to 32.9 cents in the dollar, based on balances owed when the company put a moratorium on payments to its debenture holders. In September 2009, sixteen months into the moratorium, its trustee put OPI into receivership. That had followed a Supreme Court ruling in Queensland...

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