Marshall Futures liquidation
Marshall Futures, Ltd, the Christchurch-based futures dealer, has gone into voluntary liquidation.
The firm has nominated Coopers and Lybrand as liquidators. The Christchurch futures firm was suspended from trading on December 21, after Marshall Strowan, Ltd, the company it lent money too, was placed in receiver-
ship. The futures firm was suspended from trading because its net tangible assets had fallen below the minimum required by the Futures Exchange. Marshall’s seat on the Futures Exchange was later sold. Marshall Futures had held discussions with its accountants on alternatives to liquidation, but was unable to find
a viable alternative. Mr Peter Marshall, a director of Marshall Futures, said that the other companies in Marshall Financial Group — Marshall Equities, Marshall Risk Management, and Marshall Corporate Finance — were unaffected by the liquidation.
These companies were definitely still trading, he said.
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Press, 13 January 1988, Page 27
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140Marshall Futures liquidation Press, 13 January 1988, Page 27
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