LDC investors get full refund
LDC Finance investors will receive their full capital investment back, plus a partial interest distribution.
Wednesday, July 31st 2013, 10:11AM
The 468 investors will receive a total of almost $5 million.
It follows a negotiated settlement with the Finance & Investments Partnership and further realisation of assets by the Grant Thornton receivers.
Richard Simpson and David Ruscoe were appointed receivers in July last year when PricewaterhouseCoopers resigned after the High Court decision to award funds of $9 million held by LDC to Finance and Investments investors.
An appeal was lodged against this decision but withdrawn after the negotiated settlement.
The investors will receive their payments in September.
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