Receivers appointed
PA Palmerston North Manawatu Transport, Ltd, has been placed in receivership, at the request of the debenture holders, UDC Finance, Ltd. M.T.L. is the biggest trucking operator in the Manawatu district with its headquarters based at Feilding.
Both UDC Finance and the receivers, Mr D. R. Green and Mr R. A. Allan, confirmed it is their intention to continue operating the company and its subsidiaries. “The purposes of the appointment was to enable the
'receivers to restructure the company financially.” said the M.T.L. directors. A Tauranga trucking company, South Pacific Truck and Tractor Company. Ltd, was placed in receivership. The company, formerly Rex Wood Truck and Tractor Company, employs about 15. workshop and office staff. .
. Its name was changed at the beginning of this month. Mr Don Merrie, staff manager, said that several staff had left of their own accord, but that there would be no lay-offs, and the company hoped to continue business.
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Press, 25 February 1981, Page 23
Word Count
156Receivers appointed Press, 25 February 1981, Page 23
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