Equiticorp news within month
PA Auckland Holders of first-ranking debenture stockin Equiticorp Holdings and Equiticorp Finance should know within a month how much money they will get back. The assistant manager of National Mutual Life nominees, Mr Stewart Lockhart, said he had been advised by the chief statutory receiver of the Equiticorp group of the deadline of mid to late April.
National Mututal is trustee for the debenture-holders of Equiticorp Holdings and Equiticorp Finance.
Mr Lockhart said the chief receiver, Mr Fred Watson, said he would then be in a position.to tell what amount of the debenture money could be repaid immediately, and to give a timetable for any further repayment.
He said investors had about
SIBOM in Equiticorp Holdings at the time of the company’s collapse on January 20, and about S6OM in Equiticorp Finance. Each company had its debentures secured against its own assets, Mr Lockhart said. It was possible de-benture-holders would be paid differing amounts, depending on the type of debenture they held and which of the two companies against which they were secured.
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Press, 1 April 1989, Page 28
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177Equiticorp news within month Press, 1 April 1989, Page 28
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