Banksia investors are meeting with receivers in Kyabram today.TRENT HORNEMAN December 14, 2012 11:20am
Banksia Securities Limited debenture holders are meeting with receivers in Kyabram today.
Receiver Tony McGrath said he was confident investors would receive a minimum of 50 cents in the dollar.
He also told investors the directors, auditors and officers could be held accountable.
Mr McGrath said Banksia had insufficient cash reserves against its loan portfolio and that last year’s profit of $24
Mr McGrath said receivers will sell off Banksia mortgages to recover cash, with a possible completion date of September.
More to come in Monday's Riverine Herald.
A couple and its young child were threatened with a knife on Sunday night in an attempted armed robbery at an Ardmona playground.
The Tungamah Football Netball Club has completed a fairytale season to clinch the Picola and District Football Netball League South East Premiership with an emphatic 106 point win over the Katamatite Tigers at Tungamah.
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Deniliquin High School principal Andrew Collins recently announced he will retire at the end of the school year.
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