St Laurence investors to get one more payment out of receivership

Thu, 21 Jun 2012

By Paul McBeth June 21 (BusinessDesk) - Some 9,400 investors owed $212 million plus interest by failed lender St Laurence will get one more payment before the receivers retire. The receivers for the Wellington-based lender have "one more challenging asset to realise" and expect to make "a final distribution towards the end of 2012 or early 2013 once all the final aspects of the receivership are resolved," Barry Jordan and David Vance of Deloitte said in their latest report. The last loan involved a glass/metal recycling operation in New Sout...

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