News
Government pays out $79 mill to guaranteed deposits
Monday 19th of July 2010
Some $69.4 million has been paid to deposit holders in Timaru lender Mascot Finance, the first to fall in March last year, though the Crown stands to claw back 55 cents in the dollar from that guarantee, according to the last report from the receiver. About $300,000 was paid to eligible deposits in Strata Finance, and while the receiver expects a shortfall in repayments it is unclear how much t...
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