Investors owed $660 million by the failed Banksia Securities will receive their next repayment in May, as receivers accelerate returns with the anticipated sale of the company's loan portfolio.
After an initial distribution to investors of 20 cents in the dollar in December, receiver McGrathNicol said a second return would be made in early May in the order of at least five cents in the dollar.
Another payment of 20-35 cents is expected to be made before June 30, if the sale of the loan portfolio proceeds as expected.
The repayments are months ahead of initial projections, with receiver Tony McGrath telling investors in December they were likely to receive 50 cents in the dollar by September.
On Thursday, Mr McGrath said he still expected total returns to be between 50 and 65 cents in the dollar but "currently expect the lower end of that forecast to be exceeded".
He said the performing loan portfolio had a face value of $270 million and he was confident of a positive sale outcome based on the strength and calibre of interested parties.
Mr McGrath also confirmed they were still investigating possible legal action against key parties including directors, officers, auditors and other advisers, to recoup further money for investors.
He said the Australian Securities and Investments Commission (ASIC) had given its consent for the receivers to interview a number of parties in the Victorian Supreme Court, to help determine whether legal action would be taken.
No date for such action has yet been set, a spokesman for McGrathNicol said.