27 Mar 2010

Strategic Finance applies to delist

8:46 am on 27 March 2010

The receivers of failed finance firm Strategic Finance have applied to the NZX to delist the company.

Strategic Finance owes $417 million to about 13,000 investors and was put into receivership earlier this month.

Receivers John Fisk and Colin McCloy say there will be a shortfall in the amount available for creditors, and no amount available for the company's preference shareholders.