Strategic’s Finnigan freelancing after receivership, oversees FAI repa

The failed finance company's former chief executive had been reducing his commitment, and salary, over the past six months, and has recently been doing work with his former employers, Mark Hotchin and Eric Watson. His Gartmore Consulting oversaw this week's repayment to investors at FAI Money, and he doubts that company will try to raise money from retail investors again.

"I don't think FAI will try to raise money from the public in the short term," he told depositrates.co.nz.

He also did work for Hanover Finance, which sold its loan book to Allied Farmers last year in a debt-for-equity swap valued at $396 million, though the rural lender had to write-down about $176 million of the loans.

Finnigan was let go by Strategic after the finance company was placed into receivership by trustee Perpetual Trust, and he is unsure what, if anything, will be required of him by receivers John Fisk and Colin McCloy of PricewaterhouseCoopers.