Equitable payout complicated and slow
Graham says the timing his appointment, together with colleague Brendon Gibson, just before Christmas "wasn't ideal" in terms of the speed of the process of getting money back to investors.
They were appointed on December 17 after the first receivers from Deloitte, appointed on November 29, discovered they may have had a conflict of interest.
Graham says the fact some Equitable investors were covered by the guarantee but others weren't was a complicating factor.
Equitable had about 6,000 depositors with $192.3 million invested in debt securities and about $178 million are covered by the guarantee.
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