A group set up in the wake of Banksia Securities Limited’s crash last month met to discuss the matter on Monday.TRENT HORNEMAN November 8, 2012 4:23am
A Victorian Government working party set up in the wake of Banksia Securities Limited’s crash last month met for the first time on Monday.
The group, headed up by Victorian Deputy Premier Peter Ryan, will call on the State Government to consider forms of support for individuals and groups affected by the collapse.
Banksia Securities Limited went into receivership on October 25, owing investors about $650 million.
Last week another Banksia Financial Group business, Cherry Fund, also went into receivership, with investments of about $10 million.
Assistant treasurer Gordon Rich-Phillips, Member for Northern Victoria Wendy Lovell and Member for Rodney Paul Weller joined representatives from Campaspe Shire, receivers McGrathNicol, Australian Securities and Investments Commission and the Municipal Association of Victoria at the meeting.
ASIC representatives told the meeting the Federal Government was responsible for the regulatory oversight of Banksia and matters relating to its collapse.
Banksia receivers McGrathNicol told the group early data indicated the prospect of a meaningful return to investors, which it had announced more than a week ago.
The meeting also heard of the community impact from local government representatives present.
Regional Banksia investors continue to wait on news of a meeting with receiver McGrathNicol and when any returns will be paid. Customers are waiting for an explanation from authorities for the collapse.
Volunteers take to the road to deliver Meals on Wheels to elderly and disabled in Shepparton.
The 2016 Shepparton BMW Senior Victorian Open, hosted jointly by Black Bull Golf Course and the Yarrawonga Mulwala Golf Club Resort in February, has been named the Victorian Legends Pro Am of the Year for 2016.
The Aboriginal and wider community is mourning the death of revered Bangerang Aboriginal elder, Uncle John ‘‘Sandy’’ Atkinson.
BUNNALOO author Fleur Ferris has won two awards for her first novel Risk
NANNEELLA’S night of music and family fun went off with a bang last weekend.
FURTHER demolition of Kyabram P-12 College’s A-wing building began on Monday.
Avenel win over Nagambie to take top spot
Berrigan Shire councillor Daryll Morris says he has been sickened by some of the vitriol and personal attacks to surface since the council’s proposal to redevelop Finley’s Memorial Hall and School of Arts site was revealed in October last year.
PETER Maine has been re-elected as president of Heathcote Tourism and Development, with the region facing an exciting 12 months ahead.
It is renowned for using its manpower to help rebuild fences, clean up after fires and floods and offer relief during drought, but now BlazeAid has turned its attention to the dairy crisis
At 77 years of age, popular local golfer Paul ‘Tango’ has claimed his second hole-in-one.
Tuesday, August 16
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