St Laurence receivers wrap up administration, leaving last loan to liquidator

Mon, 10 Jun 2013

By Paul McBeth June 11 (BusinessDesk) - St Laurence receivers Barry Jordan and David Vance of Deloitte have wound up their administration of the failed lender, recovering 16.7 cents in the dollar for investors, and are leaving the liquidator to deal with the last loan. The receivers made their fourth distribution of 2.7 cents to investors last month, meaning about $35.4 million of the $212 million principal owed to about 9,400 debenture holders has been repaid. Jordan and Vance have left one $400,000 loan which is expected to be realised i...

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