The trustee and receivers of former debenture-funded mortgage provider Gippsland Secured Investments last week made their third interim distribution to note-holders. The latest payment, 55 cents in the dollar, bought repayments to note-holders to 80 cents in the dollar. The total expected return is between 87 and 92 cents in the dollar, a figure confirmed by the receivers. The timing of the next distribution will depend on realisation of the residual assets of GSI, they said.