Bouquet for St Laurence; Brickbat for Strategic

The sharebroker said St Laurence has "specific distribution dates and timetables which gives investors a clear way of tracking progress," in contrast to other moratorium plans.

"St Laurence's commitment to setting and achieving measurable targets and open communications at this stage cannot be faulted," the company said in its weekly newsletter. "Very few of the other companies have shown this level of transparency."

With its long repayment timetable, McDouall Stuart said St Laurence "is on track with its payment schedule."

The newsletter was less glowing for lenders into the property development sector such as Strategic, saying continuing hardship "suggests that the repayment outlooks for these companies look likely to deteriorate further as more time passes."