Investors who lost millions of dollars in the failed financial product Credit SaILS will get more information by Easter on how much they will get back.
The Commerce Commission reached a $60 million settlement with the five firms that marketed the product including Forsyth Barr and French firm Credit Agricole.
The settlement represents about 85% of the original amount put in by the 2,500 investors.
Investors will receive a letter by the end of the month telling them whether they're eligible and how much they are being offered.
Commission chairman Mark Berry said investors need to think carefully about accepting the offer, because it will preclude them from taking legal action in the future.
He said the benefit would be that investors have certainty that they will receive their 85% entitlement.
Mr Berry said considering some investors in failed finance companies have seen very little of their money returned, this deal is significant.
"Many of the people who are involved in this fund are retired and elderly and the investment income of these credit sales notes was a substantial part of their retirement lifestyle, so that was what very much drove our desire to move to a settlement."
Mr Berry said if investors accept the offer they can expect to see their money by this September.
