Move to sell tug, barge
(N.Z. Press Association) AUCKLAND, November 30. An appraiser had been appointed to value the Unit Shipping Company’s tug and barge with a view to a court order being provided for their sale, said the company receiver (Mr M. J. Hadlow) today. Mr Hadlow, who applied about two months ago for the order, said the court would decide whether the tug and barge would be sold by auction or public tender. The company went into receivership in July because of a shortage of liquid funds, and Mr Hadlow was appointed by the Chase International Investment Corporation, the company’s main debenture holder.
Among the company’s debts is an Auckland Harbour Board charge of about $BOOO for port dues.
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Bibliographic details
Press, Volume CXI, Issue 32778, 1 December 1971, Page 2
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121Move to sell tug, barge Press, Volume CXI, Issue 32778, 1 December 1971, Page 2
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