A COLONIAL COMPANY. RECONSTRUCTION SCHEME APPROVED.
By Telegraph.— Press Aesooiat ion.- Copyright. (Received December 21, 9.12 a.m.) LONDON, 20th December. A meeting of W. and A. M'Arthur's Manchester creditors approved the Hquidator's proposals. The liquidator- proposes tliat .all ordinary share capital shall be wiped 6ut,and a. now company formed. 'Xhe reconstruction scheme consists of asking the first ■ debenture-holders to take feectrrity of th« warehouse bifsin&s, asking the"' second debcntirrri-holdSrs to gi-»<; tiiaS for th» realisation of their debt, which would eventually be provided for,- and asking tlie creditors td take a share" in tHfi ware- • house business to the extent ofliOa i» thft £»
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Bibliographic details
Evening Post, Volume LXXIV, Issue 150, 21 December 1907, Page 7
Word Count
103A COLONIAL COMPANY. RECONSTRUCTION SCHEME APPROVED. Evening Post, Volume LXXIV, Issue 150, 21 December 1907, Page 7
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