List Of Losses From Lender Collapses


 

Company   Details   Losses
Asset Loans Ltd Total group debt includes $12 million owing to 400 noteholders, $14 million to banks and $2.7 million to unsecured creditors. The Australian  The Courier Mail  $29,000,000
Banksia Securites Ltd 15,000 investment accounts frozen, 3,000 investors Australian Financial Review  $660,000,000
Bidgee Finance Ltd

Bidgee Finance was placed into liquidation on 16 August 2012  - 450 Debenture Holders 

 $18,200,000
Cherry Fund Ltd

Part of Banksia Group.  No. of investors unknown

$10,000,000 

Cromwell Finance Ltd

https://creditorwatch.com.au/company/profile/26111461093/CROMWELL-FINANCE-LIMITED

Cymbis Finance Australia Ltd

2200 debenture holders
 $64,000,000

Diverseport Fixed Income Ltd

aka The Driven Group – liquidated 2008  - loss of $683k for the year to 31 March 2008.  Report    ASIC

$683,000 
Elderslie Finance Corporation Ltd 4000 noteholders.  Sydney Morning Herald  Smart Company  $140,000,000

Eurofinance Capital Ltd

Report

Fairway Investments Ltd

Report

Financial Resources Securities Ltd

Report

First Capital Securities Ltd

Report

GR Finance Ltd 

Loan book in arrears on March 31 2011 – collapsed Oct 2011  Report

 $11,6000,000

Goldman Sachs JBWere Capital Markets Ltd 

Report
Hastings Capital

2000 investors

 $40,000,000
Indian Pacific Ltd Delisted 1990

LKM Capital Ltd 

Collapsed in 2008 owing investors

 $63,600,000

Mariner Treasury Ltd

$22,000,000
Momentum Mortgages Ltd

Receivers appointed – Co had $1.88m equity capital in 2008. Went into Adminstration Sept 2008.  

North State Finance Ltd

- Subdivision of Westlawn Finance

Plantation Land Ltd

Tied up with Timbercorp (delisted)- see $$ at this link.  The loss attributable to minority interests of $2.968 million relates to the Plantation Land Limited (PLL) shareholders. PLL owns forestry land that is leased to Timbercorp (or its wholly owned subsidiary Timbercorp Securities Limited) which is sub-let under its forestry projects. The initial purchase of the land by PLL was financed by the issue of stapled securities comprising unsecured notes (Notes) and ordinary PLL shares. As a result of Timbercorp providing a guarantee on the value of land held by PLL in favour of the PLL security holders, among other factors, PLL is considered to be a controlled entity and therefore forms part of the Timbercorp 

 $2,968,000