14 Dec 2011

Kiwi Finance debenture investors to be fully repaid

6:31 am on 14 December 2011

The Financial Markets Authority says debenture investors in Kiwi Finance will be fully repaid the $1.2 million owed.

The payment covers all remaining principal owed to secured debenture investors, plus interest outstanding up until Kiwi Finance went into receivership in April 2008.

The family of former Kiwi Finance director Rodney Greensill is paying all of the $1.2 million of reparation.

Mr Greensill has undertaken not to act as a manager or an issuer of debt securities for three years - two years less than that of three other former directors.