Banksia Securities Limited
Banksia Securities is a debenture company that has operated a mortgage financing business across a large part of regional Victoria. Receivers and managers have been appointed to Banksia Securities Limited. They are Messrs Tony McGrath, Joseph Hayes, Matthew Caddy and Robert Kirman from McGrath Nicol and they were appointed by The Trust Company (Nominees) Limited (Trustee).
The receivers were also appointed to Cherry Fund Ltd, an associated fund of Banksia Securities.
Help for investors
Investors seeking information should contact:
Banksia Securities Ltd
Banksia's website includes an information release and FAQ statement for information.
McGrath Nicol (the receivers)
Rural Finance Corporation (if independent information is required) Phone: 1800 260 425 – or visit one of their branches in Victoria
You can also email ASIC with any feedback on debentures: email@example.com
Received an unexpected offer to buy your debentures?
If you receive an unexpected offer to buy your debentures in Banksia or the Cherry Fund, you should carefully consider the price you are being offered, take advice and contact the receivers before you make a decison.
A circular from the receivers McGrath Nicol has more information about debenture transfers (see section 6 of the circular). ASIC's MoneySmart website also has tips on how to deal with unexpected offers.
ASIC taskforce to review Banksia and regulation of unlisted debentures, ASIC media release, 31 October 2012
Premier appoints Banksia working group, Victorian Government media release