by Jonathan Underhill
"These events give rise to the likelihood of a need for a further impairment in the carrying value of Dorchester's investment," Dorchester chairman Barry Graham said in a statement. The extent of the impairment charge won't be finalised until St Laurence completes its repayment plan and gains approval from its investors.
Dorchester stock has tumbled as the global credit squeeze forced the company to withdraw its prospectus and seek to make deferred payments to its debenture holders.
The stock last traded at 15 cents on August 25.
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