KEY POINTS:
Strategic Finance has finalised its moratorium plan which it hopes will see investors repaid principal and interest over five years.
Strategic, which froze repayments to 15,000 investors owed $325 million in August, will seek investor support for managed wind-down of its loan book as an alternative to receivership. Investors will receive quarterly repayments of principal and interest over a five-year period under the plan.
It is expected PricewaterhouseCoopers will monitor Strategic Finance's compliance with the terms of the moratorium during that time.
Directors believed the plan would result in higher repayments to investors than under a receivership, although "the outcome of the moratorium and the amount and timing of payments to securityholders will depend on the successful realisation of Strategic Finance's assets".
Investors should receive explanatory material within days and a meeting to vote on the proposal is scheduled for December 22.
