The 336 southern investors left $4.9 million out of pocket from the failure of St Kilda Finance almost four years ago may get back 34c to 39c for each dollar they invested.
If the highest payout range is attained, 336 investors would have lost about $2.96 million, in addition to the separate unsecured creditors' losses.
In mid-September 2011, the Financial Markets Authority cleared St Kilda Finance of any wrongdoing, along with five other failed companies, saying it believed no laws were broken before their collapses.
All Purpose Finance, which traded as St Kilda Finance, was placed in the hands of receivers in mid-November 2008 by its directors, owing almost $6.93 million to 358 mainly southern investors.
At the time, its loan book, with lending of $9.6 million, was largely secured by second mortgages over property to New Zealand borrowers; which at March this year stood at $7.2 million, an earlier report in March said.
In the eighth liquidator's report filed by Stephen Tubbs, of BDO, last month, he said there were 366 investors with funds in St Kilda, in 419 term deposits, owed about $4.9 million, inclusive of accrued interest.
He said, to date, 31.5c in the dollar had been returned to investors, which would total about $1.54 million, and he anticipated a further 3c to 8c would be distributed to each investor.
So far, BDO had received unsecured claims totalling $28,700, but Mr Tubbs did not believe there would be any funds available for any payment to them. All preferential creditor claims had been met.
