Rada in wind-up
PA Auckland National Bank has filed an application in the High Court in Auckland to wind up Rada Corporation. The court will hear the application on December 16. A spokesman for Rada said the two parties were in negotiation and it was hoped a settlement could be reached without the need for a court hearing. Rada, which is being acquired by Elders Resources NZFP, is believed to be virtually a shell. Elders is compulsorily acquiring the outstanding Rada shares, having passed the 90 per cent acceptance rate last month.
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Press, 9 December 1988, Page 21
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92Rada in wind-up Press, 9 December 1988, Page 21
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