R. MURRAY ACCEPTANCE
Debentures May Pay 14s 6<l
(N.Z. Press Assn.—Copyright> MELBOURNE, Aug. 23.
Holders of most of the £3om debentures in Reid Murray Acceptance. Ltd., may receive 14s 6d in the £. said a preliminary estimate issued today by the receivers, Mr E. H. Niemann and Mr C. J. Waugh. Holders of series 3 debentures will be an exception because they are not covered by the same inter-company guarantees. They are owed a total of £ A 3,855.000. Unsecured creditors will receive nothing. Unsecured creditors in Reid Murray Holdings. Ltd., the parent company, could receive 5s in the £. Reid Murray Acceptance £ 100 debentures have been selling on the Stock Exchange for about £25. but few were offered, the Melbourne ”Herald” said today. Mr Niemann said he could not forecast how long it would be before payments were made. A statement of affairs as at January 10. 1963. was filed today at the Victorian Regis-trar-General's office by Mr M. 11. Wilkinson, who was secretary and general manager of Reid Murray Holdings. It showed an estimated deficiency of £12,423,797 after writing off paid-up share capital of £7m. Sundry debtors with a book value of £37m were estimated to realise only £lBm.
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Bibliographic details
Press, Volume CII, Issue 30219, 26 August 1963, Page 16
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198R. MURRAY ACCEPTANCE Press, Volume CII, Issue 30219, 26 August 1963, Page 16
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