KEY POINTS:
Secured debenture holders of collapsed Provincial Finance will be getting some of their money back today.
They are owed more than $300 million.
The debenture holders will be receiving a further 7.5 cents for each dollar they invested in the company. It will be the sixth pro-rata repayment, taking the total amount of principal repaid to 72.5 cents in the dollar. That is a total of $214 million.
Receiver Maurice Noone says it is becoming increasingly difficult to maintain meaningful quarterly distribution with reduced cash collections.
- NEWSTALK ZB
