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Strategic halts January pref share payment

Srategic Finance, which is trying to reach agreement with Perpetual Trust on its moratorium, said it won't make the dividend payment due on its preference shares in January.

Wednesday, November 26th 2008, 9:33PM

by Jonathan Underhill

The moratorium process is near completion, the company said in a statement today.

Strategic froze repayments to 15,000 investors owed $325 million in August.

It wants approval for a managed wind-down of its loan book as an alternative to receivership, after a proposal by a management-led consortium to buy the business from Allco HIT, an Australian investment company, fell through.

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