Headlines:
| Supreme Court to get Cash Plus status report |
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| Monday, 12 May 2008 | |
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The eagerly
awaited status report from the Co-Interim Receiver Manager of Cash Plus Limited
is expected to be presented to the Supreme Court Monday. The report was scheduled to be presented a week ago but was delayed after the Receiver/Manager applied for a seven day extension to complete his work. Another extension was granted on Friday allowing for the submission of the report Monday. It is reported that due to the complexity of the process, additional time was required. Keven Bandoian was appointed Receiver/Manager by the Supreme Court on March 31. He was given the mandate of determining the status of the assets and liabilities of Cash Plus Limited and its affiliates. This will determine whether pay outs can be made to lenders and creditors. |