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Hanover Finance Companies Distribution

Final Distribution Deadline

There are still a significant number of eligible investors who have either returned incomplete information to us or are yet to make a claim.  These eligible investors will receive another letter shortly requesting information. All supporting information must be submitted by 16 February 2018.

We anticipate making a final distribution to the remaining eligible investors in mid to late March 2018.  The date of the final distribution will be confirmed closer to the time.

Investors who returned information to us, but after rechecking the data are still not eligible for a share of the settlement sum based on the FMA entitlement criteria, will receive a letter from us shortly to confirm their individual position.

If you have any inquiries about the distribution process, please contact Ben Colwell on 04 470 3789 or email nzhanover@deloitte.co.nz

To date 18 distributions have been made from the proceeds of FMA’s settlement with the Hanover directors (see Media Release No 2015 – 029).  These distributions are being made to the group of eligible investors who have returned complete information to us. FMA has strict verification requirements that all eligible investors must meet.

The table below sets out the distribution amount to eligible investors, based on the value of their eligible investments. 

Eligible Investors

Final Distribution

Hanover Finance Limited Secured Depositors

16 cents in the dollar

United Finance Limited Secured Stockholders

19 cents in the dollar

Hanover Capital Limited Bondholders

6.5 cents in the dollar

 

There are still a small number of eligible investors who have been contacted by Credit Consultants (our tracing agents) but have either not made a claim or have returned incomplete information to us or with no supporting information at all. We urge all eligible investors to provide outstanding information to enable a claim to be made.

Please contact Ben Colwell (04 4703789) or email us at nzhanover@deloitte.co.nz.