Hubbard payouts due in February
Thursday, January 31st 2013, 3:34PM
Hubbard Management Funds investors will start receiving payments next month because no appeals have been made against the High Court’s formula for distributing the funds.
“The news of a forthcoming payout is positive for most of the 300 investors and will come as a welcome relief,” said the statutory managers.
But about 70 investors are unlikely to be entitled to any further payment as the interim distribution they received in March 2012 exceeded their entitlement under the final distribution order calculation.
In early 2012, the statutory managers sought direction from the High Court on the fairest way of calculation what each investor should receive. Interim directions were received in June, which required further analysis of each investor’s net cash position.
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