Lifeline for LKM investors
LKM CAPITAL investorshave been thrown a lifeline, with the receiver calling on Centrelink to provide assistance in the wake of the collapse of the Coffs Harbour company.
The receivers have contacted the Minister for Human Services, Senator Joe Ludwig, to ensure the 1180 debenture holders are able to apply for Centrelink benefits if they require them.
“We believe that the Minister will have made a decision within the next one to two months and we will advise debenture holders once we have received the Minister's determination.”
Centrelink told the ABC that it is looking into the matter closely and will remain in contact with the company's receiver to track further developments.
Investors who contact Centrelink are advised to mention they are an LKM Capital debenture holder.
Pensioners who are suffering severe financial hardship may be able to apply for help under the Asset Hardship provisions.