11 Jun 2013

Liquidation of failed finance company completed

12:32 pm on 11 June 2013

Investors in the failed Wellington financial firm, St Laurence Ltd, will be paid less than 17 cents for every dollar they put into the company.

St Laurence went into liquidation in April 2010 owing $212 million plus interest to almost 9500 investors.

The liquidators from Deloitte have announced their work is finished.

There will be no money to pay unsecured creditors, but selling a $400,000 asset will allow some extra money to be paid to investors.