Strategic Finance investors about to get first payout
Tuesday, August 12th 2014, 10:59AM
Strategic Finance receivers say the $22 million settlement with Strategic's former directors and auditors has gone unconditional.
They say the first payment of $10 million has now been received and a distribution to secured investors will be made within the next two weeks.
Following the settlement agreement, there are two further instalments of $6 million due at the end of August and November which will enable further distributions to be made.
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