Investors continue to stand by Hubbard

Investors are continuing to stand by the late Allan Hubbard, following an announcement they're finally to receive payments from Hubbard Management Funds.

Statutory managers say investors will start receiving payments this month, because no appeals have been made against the High Court’s formula for distributing the funds.

Investor Liaison Group spokesman Noel Macpherson says Allan Hubbard's honesty and integrity has been vindicated by the court ruling.

He says the South Canterbury businessman always stated investors wouldn't lose their capital, and the court ruling says that will be paid back first, and the balance will be shared pro rata amongst investors.

About 70 investors are unlikely to be entitled to any further payment, as the interim distribution they received last March, exceeded their entitlement under the final distribution order calculation.


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