The statutory manager of Aorangi Securities appears to have bowed to public pressure and appointed an independent administrator to assess hardship cases for those who have had funds frozen.
Retired banker Dick Brown has been appointed by Grant Thornton to consider those cases.
Aorangi, a company associated with Timaru businessman Allan Hubbard, and seven charitable trusts, had their assets frozen on June 20.
The Otago Daily Times has been reporting cases where mainly elderly people have been begging banks to release some of their money so they can meet daily living expenses.
The Hubbard Charitable Trust has so far raised $40,000 to help investors most in need.
In a letter to distressed investors, statutory manager Trevor Thornton said those investors who needed to cover urgent living expenses had been asked to contact Mr Brown.
"He will assess their needs and make recommendations to the statutory managers.
"If they live outside South Canterbury, a suitably qualified person in their area will be identified to make the assessment.
"We know that the placing of the funds into statutory management, and the subsequent freezing of the investments, is stressful to many investors.
"We hope that the arrangements made will lessen that stress."
Those distressed investors who had urgent living expenses and who had not yet contacted the statutory managers should do so now, Mr Thornton said.
John Funnell, a spokesman for the Hubbard trust, said from Taupo he welcomed the announcement from Mr Thornton and hoped the distressed investors would make immediate contact with the statutory managers.
"It's damn good he is doing that, but it is about time. We know of some people who are relying on friends and relatives for basic food items."
Many of the elderly investors had been too proud to ask for help, but Mr Funnell hoped they would contact either the statutory manager or the trust for help.
