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Biggles
23-09-2003, 12:34 PM
This story on IDGNet today:

PC Co warranty future unclear (http://computerworld.co.nz/webhome.nsf/NL/AE09B16A86F5559DCC256DA900132DCF)

Excerpt:
"As I understand it, and I'm not that familiar with this particular case, he's repaid the bank loan and therefore taken over the debenture."

This puts Brown in charge of the process rather than leaving it to the bank, which would typically appoint a receiver.

"Receivers would require an indemnity and can be expensive. The alternative is liquidation, of course."

Under Brown's scheme, he will have to sit down with creditors and shareholders and discuss how much can be repaid and when."

Graham L
23-09-2003, 03:52 PM
Bruce, you are really lowering the tone here. :D You haven't called anyone a crook or cheat; you didn't post what I called "specuilation based on ignorance" when the some of the "free speechers" were trying to make lawyers rich; you've had the cheek to quote facts. :O