Nathans debentures offered some hope
Nathans Finance investors get glimmer of return, but it won't be until next year and it will be small.
Sunday, 25 November 2007
Receiver, Colin McCloy, of PricewaterhouseCoopers, said that this initial repayment would be followed by further dividends, but the timing and amount of the subsequent repayments was unable to be confirmed at this stage.
"This will depend on recoveries from loans to VTL Group and related parties. In particular, one of VTL Group's investments, Shop 24, has growth potential and discussions are underway with interested parties on how best to realise that potential. It would be premature to speculate on the value of Shop24 until negotiations with the interested parties are complete."
McCloy said the receivers hoped to be able to provide more clarity around the timing and amount of future payments in the March 2008 quarter.
"The complicated nature of the company's arrangements makes it difficult to accurately assess potential returns. However we have sought to provide investors with as much guidance and information as we can at this stage."
Nathans went into receivership when the finance company's trustee, Perpetual Trust Limited, appointed receivers on 20 August 2007. Nathans is a subsidiary of NZX-listed VTL Group. Trading in VTL Group shares is currently suspended. VTL Group Limited owns a number of vending machine related businesses which operate in New Zealand, Australia, North America and Europe.
Commenting is closed
Find a Rate
14 October 2016
18 August 2016
20 June 2016
9 May 2016
11 April 2016
Cash PIE Rates
Weekly Updates including news and commentary
Disclaimer - Every possible effort has been made to keep the information in the tables and on this site as accurate as possible, however, neither the publisher, Tarawera Publishing, nor anyone engaged to compile the rates and this site accept any liability for inaccuracies or any loss suffered as a result. It is strongly advised that readers check loan details with providers. The full terms and conditions of this site can be found here.
© Copyright 1997-2016. Tarawera Publishing Ltd. All Rights Reserved.