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.
Much like the 16-year-old teenager who outgrows their childhood bedroom, it’s time for Kyabram Fauna Park’s saltwater crocodile Getcha to upgrade to a larger enclosure.
Dawn Tabor 10 January 1944 – 10 September 2016
The Aboriginal and wider community is mourning the death of revered Bangerang Aboriginal elder, Uncle John ‘‘Sandy’’ Atkinson.
MELINDA Gates once said ‘‘a woman with a voice is, by definition, a strong woman’’.
OUR Lady of the Sacred Heart Elmore was a sea of colour earlier this month for Footy Colours Day.
THERE were picnics galore at St Augustine’s College recently as the school celebrated St Augustine’s Day with a whole college mass and a community picnic on the school oval.
Seymour A and B-grade in season decider
Extensive rainfall in the Southern Riverina is having a negative impact on farming.
IT’S JUST over two years since Melbourne-born Elizabeth Carr decided to make a tree change and move to Redesdale.
Former Moira Shire mayor Marie Martin will be running in the upcoming council election.
Nick Caruso will compete in tumbling at the National Clubs Championships in Bendigo tomorrow.
Tuesday, August 16
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