Friday, October 26, 2012

Australia investment fund Banksia in receivership, investors face difficulty recovering funds

Banksia investors nervous
THOUSANDS of Banksia Financial Group investors remain in limbo and are facing the loss of millions of dollars. Investor assets have been frozen after the company went into receivership yesterday amid $660 million debt. The news has devastated investors, particularly in northern Victoria where there are several Banksia offices.
Banksia investors unlikely to have all money returned
Elderly, families may lose nest eggs after collapse of Banksia Financial Group
Receiver's release

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