The voluntary administrators of collapsed Australian derivatives trader Halifax have estimated the deficiency in the company's assets to be between A$15 million ($15.7m) and A$25m, up from an orginal estimated shorfall of A$10m-A$20m.
Administrators Morgan Kelly, Phil Quinlan and Stewart McCallum, of Ferrier Hodgson, said they had been considering the options for the timely return of shareholder funds.
How much of that shortfall relates to New Zealand investors is not yet clear, although the administrators say client funds totaling $44m on one of three investment platforms used by Halifax were identified as held by New Zealanders.
The options were a deed of company arrangement (DOCA) or placing Halifax into liquidation.
On November 23, Halifax's investor account balances totalled approximately A$211m.