Tuesday 4th November 2008 |
Text too small? |
The chairman of VTL Group was, until yesterday, Gary Stevens, and its directors were Roger Moses and Don Young.
In a release to the exchange last night they said they had resigned and Colin McCloy of PricewaterhouseCoopers has been invited to become receiver of the company.
McCloy has not yet been formally appointed receiver.
McCloy and John Waller are the receivers of VTL’s failed subsidiary Nathans Finance which was placed in receivership in August 2007.
VTL owned vending machine businesses in Australasia, North America and Europe. A process has been underway to sell these assets.
In their statement the directors said that they “continue to believe that Remote Technology Systems LLC, Shop24 and the vending franchise programme have value and hope that the restructuring programme will continue for the benefit of the stakeholders.”
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes