Banksia investors to recoup more cash INVESTORS owed $660 million by the failed Banksia Securities are set to get considerably more money back than first thought, receivers say. As efforts to sell the company's loan portfolio continue, receiver McGrathNicol expects investors to receive total repayments of 70 cents to 80 cents in the dollar, it said on Friday. In February, it said total returns would likely fall between 50 and 65 cents in the dollar. After an initial repayment of 20 cents in the dollar in December, investors will receive another 10 cents per dollar in May, with a 20-35 cents in the dollar due by 30 June if the loan book sale succeeds, receiver Tony McGrath said in a statement. "Whilst we are unable to revise our repayment guidance until the sale process is further progressed, for present purposes, we expect the revision will result in total repayments of 70 cents to 80 cents in the dollar," he said. The repayments are months ahead of initial projections, with Mr McGrath telling investors in December they were likely to receive 50 cents in the dollar by September. Final offers for sales of Banksia's $270 million loan portfolio are due early this month, he said. The Australian Securities and Investments Commission (ASIC) has agreed to let receivers interview a number of parties in the Victorian Supreme Court to help determine whether legal action would be taken. Public examinations before the court are scheduled for July 23, Mr McGrath said. Receivers are also continuing to meet with solicitors over a separate class action launched in December against Banksia, their directors, auditors and the trustee, he said.