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.
The redevelopment of Shepparton Library, which will feature accessible shelving, a teen-specific area, a Skype booth and internet-enabled work stations, will be completed in the next two months.
The Ovens & Murray qualifying final between Yarrawonga and Lavington on Saturday left spectators talking more about the standard of umpiring than the two competing teams.
Greater Shepparton City Council was successful in securing the National Cutting Horse Association Victorian Futurity Cutting Horse Championships for 2014 and 2015, with this year’s event scheduled from September 10-14 at Tatura Park.
The Kiss Angels, 50 Shades of Hope team have come up with a creative way of fundraising for the Relay for Life, a purple potty.
District hotels and businesses may change rosters with penalty rates for casual employees on Sundays set to be cut.
Students visit local businesses for reading lessons
Bottle thrown at Jason Cole in bitter aftermath to Seymour-Benalla game on Saturday.
A truck driver is lucky to be alive after crashing into a Jerilderie home yesterday morning.
Chef and co-owner of Heathcote’s Willow Room Brent Loam is thrilled with the listing in the 2015 Age Good Food Guide
Cobram kids learn about health with hospital as state-wide obesity campaign is launched.
Murray Irrigation to search for new boss after Anthony Couroupis finishes with the company.
A few anxious customers were outside the closed gates of the failed Bee-Jay Machinery business on Goulburn Valley Hwy in Shepparton on Tuesday morning, wondering what would become of deposits they had paid for tractors and other machinery.
A sophisticated hydroponic cannabis system was discovered by police at the Victoria Hotel last week.
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