Business

Strategic Finance investors to be repaid over five years

19:38 pm on 2 December 2008

Troubled finance firm Strategic Finance aims to repay investors $325 million over five years after finalising its moratorium proposal.

Strategic Finance stopped its 15,000 investors from pulling out their money in August.

Plans for a consortium led by Strategics' former owners to buy the firm from its Australian owner later fell over.

Strategic's chief executive Kerry Finnigan says interest to investors will fall to a flat 8%.

Mr Finningan says after repaying the company's banker, repayments to investors should start in September 2009 at the latest.