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Syndicate wind-up plan opposed

Thursday 23rd of August 2012

SPI recently sent a letter to investors in its Gloucester syndicate advising them of its plan to terminate the scheme, which will be put to the vote at a special meeting next week.

The move to close down the syndicate comes after an insurance pay-out of $40.6 million was finalised for the syndicate’s earthquake-damaged building in the Christchurch CBD, which is to be demolished. 

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