Rates round up
Another payout for Dominion Finance investors; Perpetual gives Dorchester sign-off to go to investors; Sky City buys back capital notes.
Monday, 24 May 2010
Dominion Finance investors to get another 2.5 cents
Receiver Rod Pardington of Deloitte reiterated his view that debenture holders will get between 10 cents and 25 cents in the dollar, though the bottom end of the range does not assume any recovery from actions against directors, valuers, or other financiers.
Perpetual gives Dorchester sign-off to go to investors
Though the final touches are being put on the official documents, the meeting for debenture holders is expected to be held next month.
Dorchester needs to win investor approval for the plan, and raise at least $8 million in a proposed rights issue to get its restructuring plan across the line.
SkyCity buys back capital notes
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