News

Propertyfinance Securities revival proposed

Sunday 4th of November 2007
PFG's finance company, Propertyfinance Securities (PFS), collapsed in August. It owes about 4000 retail investors $80m in debentures and has issued about $550m of mortgage-backed debt securities to institutional investors through which it funded its residential and commercial loans business.

Trustee Guardian Trust holds PFS assets of loans and cash valued at $670m.

Debenture st...

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