Secured shareholders in failed Nelson-based LDC Finance are set to get their investments back along with interest after replacement receivers David Ruscoe and Richard Simpson signed a settlement deal wth the company's majority owners.

Grant Thorton's Ruscoe and Simpson successfully sold LDC Finance's remaining assets and reached an agreement with Finance & Investments Partnership, which is operated by LDC owners Murray Schofield and Andrew Harding. The US$4.9 million agreed will be used to pay back 468 secured investors.

Simpson and Ruscoe were assigned replacement receivers in 2012 following the resignation of PricewaterhouseCoopers, after the High Court made a decision to award US$9 million held by LDC Finance to investors of Finance & Investments. The ruling was withdrawn since the settlement agreement.

"This has been a long process for investors, but we are pleased to advise that the 468 secured investors will receive all the capital they invested and partial interest in early September," stated Ruscoe and Simpson. "Our task on behalf of secured investors is now complete."

No agreements has yet been reached by liquidators Shephard Dunphy concerning the US$9 million owed to the company's unsecured creditors.