Apology to receivers

Press, 25 October 1980, Page 11

Apology to receivers

PA Palmerston North The New Zealand Press Association distributed on Au just 22, a report from Palmerston North which included statements by Mr B. Kenyon, of Kairanga Knitting' Mills, Co. Ltd, criticising the receivers' handling of the Mosgiei, Ltd. receivership and their experience. Kairanga proposed to purchase part of the Mosgiei business. The “Manawatu Evening Standard.” which originated the report, has published the following statement:

“The ‘Evening Standard’ now believes that the decision of the receivers in respect of the sale of the knitwear division was clearly justified and compared with the Kairanga proposal has resulted in major benefit to the parties in whose interests the receivers are acting.

“The ‘Evening Standard’ regrets having published comments which were unfavourable in respect of the competence of practitioners of long standing who are both senior partners of a national firm of chartered accountants. "It had no intention to denigrate the receivers in their personal capacities or in the’ manner in which they were carrying out their duties, and it apologies to them.

"Mr Kenyon wishes to make it clear that the statements attributed to him in the aricle are brief extracts from a long telephone conversation he had with a reporter and as far as he is concerned appear out of context.

‘‘The initial purpose of the conversation was to inquire whether the deal to purchase was on or off. Mr Kenyon informed the

reporter that it was off, and that was that. "In response to further questions by the reporter he went on to convey his firm’s natural disappointment that a deal had not been able to be concluded.

‘‘He agrees that the article, as published, unfairly reflects on the competence of the receivers as senior practitioners of a national firm of chartered accountants.

“He also- confirms that I he had no intention of i denigrating the receivers in their personal capacity , or jn the manner in which i they were carrying out | their duties, and to the ex- ‘ tent tha t the article ex- : pressly or impliedly con- j veys a contrary viewhe , unreservedly apologies to them.”