Debenture fund freezes redemptions

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22 July 2015

 

Last week the Adelaide-based Angas Fixed Interest Debenture Fund ordered a freeze on redemptions for at least 18 months. The freeze follows a Federal Court order in April after the trustee to the fund commenced legal proceedings against Angas. A meeting of debenture holders has been called for in August 2015 where Angas will put forward a proposal to run down the loan portfolio and make scheduled repayments to holders.

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