Hanover investors set to see repayment
Deloitte has revealed it will make a payment to investors on November 20, out of the $18 million settlement the Financial Markets Authority negotiated with Hanover’s directors.
Only investors who put money into Hanover companies between December 7, 2007, and July 23, 2008, are eligible to receive part of the payout.
Hanover Finance secured depositors will received 16c in the dollar, United Finance secured stockholders will received 19c and Hanover Capital bondholders will received 6.5c.
It is the first payment the investors have had since they received 6c in the dollar in 2009, a year after the company collapsed.
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