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.
Brownlow medallist Kevin Murray, who enjoyed a decorated career with Fitzroy Lions, is putting his medals from his playing days on display to help raise funds for Arcadia Country Fire Authority.
The Australian Cricket Association has made the decision to postpone the Masters events scheduled for Yarrawonga this weekend in light of the serious injury to Australian cricketer Phillip Hughes.
Last week Victorian Collections passed a major milestone, with the 50000th historical object record from the state’s heritage collections uploaded to the site.
On Saturday voters will head to the polls to decide what shape the new Victorian Government will take. The Riv asked each of our six candidates to provide 300 words on what their number one issue is for the seat of Murray Plains.
Rochester Elmore District Health Service’s board of management chair Tim Fulton has presented Gayle McConnell and Heather Oliver with long service awards.
Local recovering after workplace injury
Here's a fundraising idea that's hard to beat.
No luck for Finley in Murray Valley cricket.
The falling water level at Lake Eppalock is causing concern, dropping at an alarming rate according to residents.
Moira Shire's best take on former Australian greats for local masters exhibition match.
Deniliquin business Charlie Carp attracts international interest.
A spring Future Orchards walks will be held at Coomboona on Friday November 28 from 9.30am.
Dr John Alexander is 101-yrs-old and has many fond memories of working with the Benalla migrant camp residents from its opening in 1949.
- No Myna Matter - Benalla man rewarded for disposing of more than 300 common myna birds.
- Charges laid over Benalla Golf and Bowls Clubs thefts.
- Benalla annual sheep sale bouyed by good season.
- How-to-vote cards tampered with.
- Yooralla CEO resigns after investigation of sexual abuse of disabled clients by Yooralla workers.
Discover unbelievable local deals from local businesses every week in the Goulburn and Murray Valley area with Leapon.com.au!
Search properties for sale or rent across North Central Victoria and Southern NSW. Visit your local website for local homes....
Search for published and unpublished photos from McPherson Media Group newspapers and magazines. All our photos are available to purchase.
Place an advertisement in any one of McPherson Media Group's local newspapers.