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.
Mayor joins campaign to encourage residents to attend public transport forum tomorrow.
Yarrawonga’s Bre Elliott played the most “consistent golf of her life” over three days to win the Fuccillo Kia Championship at Capital Hills by carding a 2-under 69 on the final day.
Chelsea Campbell is excited with her new business venture, after purchasing Carol Taylor’s hairdressing salon in Hogan St.
Police are preparing a report for the Coroner after a woman’s body was found near the Campaspe River in Runnymede yesterday afternoon.
ELMORE Primary school students and teachers were joined by Elmore RSL sub-branch representatives on Saturday for the planting of a Gallipoli oak.
Community workshop to consider issues to help form Campaspe digital strategy
Nagambie winery takes out the top gong at the annual James Halliday awards - and plans to make the most of it.
Berrigan Shire Council have approved a development application for six more independent living units to add to Berrigan’s Amaroo Self Care Unit block.
HEATHCOTE’S senior citizens are celebrating the completion of renovations on the Senior Citizen’s Hall in High St.
Christmas came early for more than 150 people as the Cobram Football Netball Club hosted Christmas in July on Saturday night.
A pilot is believed to have been killed in a crash 40km from Deniliquin.
Riverine Plains is set to hold the first in its series of farm walks for the 2015 season as part of its research into stubble retained cropping systems.
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