EUFA recommends St Laurence investors vote for receivership

EUFA recommends St Laurence investors vote for receivership

Finance company investor advocacy group EUFA (Exposing Unacceptable Financial Activities) has recommended investors in St Laurence reject its recapitalisation and delayed repayment plan and opt for a receiver to recover whatever money can be retrieved.. EUFA coordinator Suzanne Edmonds said many members were shocked at the 13 year delayed repayment plan and the small size of the capital contribution by St Laurence owner Kevin Podmore. "We couldn't possibly vote for this because a year in your life is very important for people in their 70s," Edmonds told interest.co.nz. * This article was first published yesterday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.

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