Dominion Finance Administrators Calls Moratorium

Published: Fri 28 Nov 2008 03:27 PM
Dominion Finance Administrators Call Moratorium Meeting
Nov. 28 – The voluntary administrators of Dominion Finance Holdings Ltd., whose shares last traded in October at 1 cent, said its North South Finance unit will seek stockholder approval for a moratorium next week.
To eke out more time for the arrangements, the administrators gained a High Court order extending the time for the watershed meeting of DFH creditors, which is now likely to be convened in the new year.
DFH is essentially a shell with limited cash available, with one of its operating units in receivership and the other, North South, negotiating a moratorium on payments to investors.

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