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Strategic in talks with Perpetual & BOS on moratorium

Strategic Finance managers and directors, who were thwarted in their attempt to acquire the company from Australian parent Allco HIT, are in talks about a moratorium with the trustee and BOS International.

Friday, November 14th 2008, 11:58AM

by Jonathan Underhill

"The moratorium proposal is likely to result in the cancellation of all dividends including dividends payable to perpetual preference shareholders until all principal and interest has been paid to prior ranking security holders," the company said in a statement.

Allco Hit this week appointed KordaMentha as receivers and managers for the group, excluding Strategic Finance and its immediate owner Strategic Investment Group.

« Who has got a guarantee?Geneva founder ousted from board »

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