Receivers appointed to Strategic Finance earlier this month have applied to NZX to cancel quotation of Strategic Finance's preference shares and to delist the company.Receivers John Fisk and Colin McCloy of PricewaterhouseCoopers, who were appointed on Ma
Receivers appointed to Strategic Finance earlier this month have applied to NZX to cancel quotation of Strategic Finance's preference shares and to delist the company.
Receivers John Fisk and Colin McCloy of PricewaterhouseCoopers, who were appointed on March 12, today said they anticipated there would be a shortfall in the amount available for creditors, and no amount available for Strategic Finance's preference shareholders.
Strategic Finance has around 13,000 investors with investments of $417 million.
The receivership ended an earlier moratorium deal.
Trustee Perpetual Trust, which called in the receivers, said Strategic Finance's loan book had declined in value to $220 million in December 2009 from $477m when the moratorium was approved in December 2008.
