BANKSIA investors can expect another pay out by May.The return of five cents in the dollar will be delivered early than originally anticipated by receivers McGrathNicol.
Receiver Tony McGrath said there were also hopes a third payment could be made to investors before the end of the financial year.
"Based on the rate of collections to date, we anticipate being able to make our next repayment to BSL debenture holders by early May and that this will be in the order of at least 5 cents in the dollar," Mr McGrath said.
"Additionally, provided the sale process of the performing loan portfolio occurs in the timeframe anticipated, we expect to be able to make a significant further distribution, in the order of 20 to 35 cents, prior to 30 June 2013, thus accelerating the timing of overall returns to debenture holders."
The earlier payment delivery is due to a strong interest from a number of parties into Banksia's loan portfolio that was put on the market last week.
McGrathNicol estimates investors will see between 50 and 65 cents in the dollar on their investments.
The receivers are believed to still be investigating to see if any claims can be made against third party companies to increase the returns to investors.
"As part of this process, we are undertaking a detailed review of BSL’s records and disclosures, related party transactions and advances and the manner in which key parties such as Directors, officers, auditors and other advisers have discharged their duties," Mr McGrath said.
"We are also working closely with the Australian Securities and Investments Commission to assist them with their inquiries as to the failure of the company."
He said flagged the likely examination of a number of individuals in the Supreme Court of Victoria to assist their investigations and consideration of whether recovery action should be commenced.
He said ASIC had consented to examinations for a number of key parties.