Hundreds of investors in two Allan Hubbard funds have received a further payout from the statutory managers.
Aorangi Securities' 400 investors were to get 5 cents in the dollar (a total of $5 million) on Friday, taking the total distribution to $33.7 miliion, or 35 cents for every dollar invested.
And more than 200 investors in the Hubbard Management Fund have received a further payment of 5 cents in the dollar, taking their total repayment to 45 cents in the dollar or $18 million of their entitlement.
The statutory manager, Grant Thornton, says after reaching a settlement over some contested assets with the late Allan Hubbard's wife Jean, it will be able to return most, if not all, of the Aorangi investors' capital.
A working committee has been set up to sell the assets, including stakes in assets like farms and property co-owned by parties associated with Mr and Mrs Hubbard.
Mr Thornton says it's too difficult to say when future payments will be made to investors.
Meanwhile, the receiver says it's resolved all claims between between Mrs Hubbard and the Hubbard family in the Hubbard Management Fund, allowing it to continue asset sales in that fund, including private equity investments and less liquid assets.
The statutory managers were appointed to both Aorangi and Hubbard Management Fund in 2010.