Banksia Securities Limited

Banksia Securities is a debenture company that has operated a mortgage financing business across a large part of regional Victoria. Receivers and managers have been appointed to Banksia Securities Limited. They are Messrs Tony McGrath, Joseph Hayes, Matthew Caddy and Robert Kirman from McGrath Nicol and they were appointed by The Trust Company (Nominees) Limited (Trustee).

The receivers were also appointed to Cherry Fund Ltd, an associated fund of Banksia Securities.

Help for investors

Investors seeking information should contact:

Banksia Securities Ltd
Banksia's website includes an information release and FAQ statement for information.

McGrath Nicol (the receivers)
Investor telephone hotline: 1800 722 079
Email: bslinvestors@mcgrathnicol.com
Fax: (02) 9338 2699
www.mcgrathnicol.com

Rural Finance Corporation (if independent information is required)
Phone: 1800 260 425 – or visit one of their branches in Victoria

You can also email ASIC with any feedback on debentures: debenturesandnotes@asic.gov.au

Received an unexpected offer to buy your debentures?

If you receive an unexpected offer to buy your debentures in Banksia or the Cherry Fund, you should carefully consider the price you are being offered, take advice and contact the receivers before you make a decison.

A circular from the receivers McGrath Nicol has more information about debenture transfers (see section 6 of the circular).
ASIC's MoneySmart website also has tips on how to deal with unexpected offers.

More information

General information about the receivership process (PDF 67 KB)

ASIC taskforce to review Banksia and regulation of unlisted debentures, ASIC media release, 31 October 2012

Premier appoints Banksia working group, Victorian Government media release

MoneySmart's Trouble with debt webpage

ASIC Website: Printed 05/24/2013

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