The Statutory Managers of Aorangi Securities Limited and Jean Hubbard, widow of the late Allan Hubbard, are pleased to announce that an amicable settlement has been reached in the “introduced assets” proceedings. The terms of the settlement are confidential but it can be disclosed that settlement is expected to return most, if not all, of the Aorangi Investors' capital over time.
The process will involve the co-operative realisation of assets, some of which are due to settle during June 2013. Investor’s capital will be repaid progressively as funds become available.
Court proceedings planned for the week commencing 20 May 2013 have now been discontinued.
The next Statutory Managers’ report which is due at the end of July will provide an update on the asset realisation process for returning capital to investors.
Michael Dunlop
Acumen Republic
M +64 (0)275 747 587
D +64 (0)4 494 5142
E mdunlop@acumenrepublic.com
Julian Light
Acumen Republic
M +64 (0)21 243 8528
D +64 (0)4 494 5146
E jlight@acumenrepublic.com