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Jenny Ruth
Jenny Ruth
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South Canterbury Finance receivers sell FSL stake

Monday 1st of August 2011

The receivers, Kerryn Downey and William Black of McGrathNicol, didn't specify the amount of the loan or the amount the stake was sold for.

The FSL stake was sold to D & W Investments and Sectarian Securities.

Downey says the outcome provides future certainty for FSL's customers and suppliers.

FSL is a specialist insurance premium funding company which provides premium funding options to companies through a network of insurance brokers. It has operated on a largely stand-alone basis from the rest of the SCF group since it was established in October 2002.

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