FE Investments placed into receivership
On 1 April 2020, Neale Jackson and Brendon James Gibson of KordaMentha were appointed Joint Receivers and Managers of all of the assets and undertaking of FE Investments Limited (‘FEI’ or ‘the Company’) pursuant to a Trust Deed dated 8 August 2003 as amended by a Deed of Amendment and Restatement – Deposit Trust Deed dated 18 November 2016 and a Deed of Amendment dated 29 March 2018 and security interest registered in accordance with the Personal Property Securities Register Act 1999 on 9 October 2003, granted in favour of Trustees Executors Limited.
The Receivers are now in control of the assets and undertaking of the Company.
Information for deposit holders
As a consequence of the receivership, all payments of principal and interest to deposit holders have been suspended.
The Receivers will shortly write to all known deposit holders advising them of the receivership and the likely next steps. Further communication with deposit holders will likely be in May 2020, when the Receivers will provide further information about FEI and the receivership.
Information for borrowers
Borrowers should continue to make their regular contracted payments, to the same bank account.
The Receivers will write to you in due course.
Please contact your normal account manager at the Company should you wish to discuss the status of your borrowings.
For the avoidance of doubt, the Receivers do not adopt personally or otherwise any agreement you have with the Company. Any such agreement shall remain between you and the Company.
For completeness, please note that FE Investment Group Limited (ASX listed) is not in receivership.