JBL present
PA Auckland The second debentureholders in JBL Properties, Ltd, (in receivership) are to get a Christmas present — a distribution of 22.5 c in the dollar.
The payment will bring to 82.5 c, the amount the second debenture-holders have received on their investment, although they have not received any interest since the receivership began on May 23, 1972. The Government receiver, Mr D.L. Hazard, says in a letter with the
payments, which are to be posted on Monday, that he has managed to put together from various additional recoveries, a total of about $BOO,OOO which he is distributing. As it is a repayment of capital, it is tax free. “I do not expect anything other than a further very small distribution to you,” says Mr Hazard, “and this will certainly not be for some considerable time. “With best wishes for Christmas."
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Bibliographic details
Press, 13 December 1986, Page 29
Word Count
142JBL present Press, 13 December 1986, Page 29
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