27 Nov 2010

Payments to Aorangi Securities slow

6:05 am on 27 November 2010

The statutory managers of Aorangi Securities say slow-paying borrowers are hampering its efforts to recover money to repay investors.

Grant Thornton's fifth report into the Allan Hubbard company, shows $5 million is still owed and it's proving hard to collect.

The managers are sending requests for payments due on 31 December.

They say they anticipate better returns and payment of arrears as dairy cash flows expected to be stronger over the next six months.