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More good news for Sterling First victims

Gareth Parker

The Australian Financial Complaints Authority has ruled in favour of one of the victims of the collapse of the Sterling-First rent-for-life scheme.

In the determination the AFCA ruled that the tenants are entitled to recover almost all of their $276,000 investment. The panel found that there was misleading representations of the level of risk and security of the investment.

Sterling victim’s advocate Cath Dall says that ‘this is a fantastic return and again it reduces that level of stress for those who are still waiting to find out exactly what’s going to happen.”

To view the determination go to:

https://service02.afca.org.au/CaseFiles/FOSSIC/655484.pdf

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Gareth Parker
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