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Moyala reassures community after Banksia fallout

Moyola Aged Care as reassured the community there will be no impact on its operations after Banksia Securities was placed into recievership.

November 13, 2012 11:52am

Moyola Aged Care has moved to reassure residents, family members and the Tatura community there will be no impact on its operations following the announcement receivers had been appointed to manage Banksia Securities.

The committee of management told The Guardian, in a statement on Friday, that while Moyola had funds invested with Banksia Securities that had been frozen, the bulk of its funds were invested with a bank and all accommodation bonds were secure.

The committee of management said the new Margaret Love wing had been fully paid for and there was no outstanding liability.

‘‘As a committee, we intend to remain informed about the realisation strategy of the receivers and their progress in deciding the level of return to investors, and we will ensure that this information is communicated to our members as it becomes available. Rest assured that Moyola Aged Care remains in a very strong financial position,’’ the statement said.

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