Bexley negotiations continue
PA Auckland The Bank of New Zealand has not named a receiver to Bexley Corp, but negotiations are continuing. Bexley asked the bank to appoint a receiver on Friday after its associate, Commercial Securities, was placed in
receivership. Commercial Securities chairman, David Davies, said that in early discussions with its receivers they had indicated they would not offer the company’s buildings in a fire sale. The company’s position be-
fore going into receivership was made more difficult when the unconditional buyer of its $33 million Los Angeles property failed to settle in early December. The company was pursuing legal action to enforce the contract, Mr Davies said.
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Press, 9 February 1989, Page 21
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110Bexley negotiations continue Press, 9 February 1989, Page 21
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