Sharechat Logo

Creditors give Australian Bridgecorp directors a chance

By NZPA

Thursday 2nd August 2007

Text too small?
Creditors of nine of Bridgecorp's Australian companies have given the directors a chance to save the operations from going into liquidation.

The Dominion Post reported today that creditors voted at a closed creditors' meeting in Sydney on Tuesday to give directors, including managing director Rod Petricevic, time to prepare a deed of company arrangement.

A spokesman for administrator PricewaterhouseCoopers said generally such deeds were intended to structure affairs to give creditors a better return than if a company was liquidated.

The terms of the Bridgecorp deed were not yet known as the directors had not started preparing it.

For more of the week's top news stories for financial advisers. Visit www.goodreturns.co.nz


  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

April 10th Morning Report
Why are bond yields soaring??
Devon Funds Morning Note - 09 April 2025
April 9th Morning Report
SUM - SALES OF OCCUPATION RIGHTS
April 8th Morning Report
April 7th Morning Report
MLN - NZX ADVISER FIRM HANDLING FEE ON MARLIN GLOBAL WARRANTS
THL - Preliminary Response to US Tariff Announcement
CDC Independent Valuation