Investors in debentures of Provident Capital can expect a return of between 25 cents and 30 cents in the dollar, receivers PPB Advisory said yesterday.Late in July, the Federal Court appointed PBB as receivers to the Sydney-based mortgage fund, following an application by the trustee.PPB said more than 90 per cent of Provident's borrowers defaulted and many loans were made without regard to the borrowers' ability to repay the debt. It said many loans were made on the basis of "poor and unsuitable security."Provident also "failed to maintain assets" once it exercised its rights as a mortgagee, PPB said.The receivers said A$40 million in loans, or close to a quarter of the total, were guaranteed by two borrowers. PPB said it expected to recover less than 50 per cent of the value of these loans.More than 3000 investors are owed $125 million. Bendigo and Adelaide Bank, which is a secured creditor of the firm, provided $91 million in funding to Provident.PPB said it planned to undertake public examinations (of key staff and directors) before a court early next year.