H. G. PALMER STATEMENT
Int. Repayment Has Priority (NX Press Mssn— Copyright! SYDNEY. November 1. A statement would be made as soon as possible on the position of the £2lm debentures in H. G. Palmer (Consoli dated), the trustee (Mr G. W. Ross) said today. The Permanent Trustee Company of New South Wales, as trustee for the debenture holders, put a receiver into the company last week after the trust deed had been breached. This means that all the debentures are now due and payable. Mr Ross said a statement of affairs was being compiled from the time the receiver took over and would be disclosed to debenture holders by the receiver when completed. Some Confidence The trustee said he was “not without confidence. “We have been watching the situation for quite a while. The company has got a lot of assets—if they had not, a receiver would have been appointed a lot earlier.” Mr Ross added that the question of repayment of interest was being given the highest priority-interest of course would continue to run. However, it is not yet clear whether normal interest payments will continue to be made.
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Bibliographic details
Press, Volume CIV, Issue 30897, 2 November 1965, Page 22
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191H. G. PALMER STATEMENT Press, Volume CIV, Issue 30897, 2 November 1965, Page 22
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