Capital + Merchant receivers nearer to making small payment to debenture holders

Wed, 05 Aug 2015

By Jonathan Underhill Aug. 5 (BusinessDesk) - The receivers for Capital + Merchant, the finance company that failed in 2007 leaving 7,500 debenture holders $167 million out of pocket, are closer to making a distribution of some $10 million after settling some claims with first-ranking creditor Fortress Credit Corp and former trustee Perpetual Trust. In the 16th receivers' report, from KordaMentha's Grant Graham and Brendon Gibson, they say they have settled a claim from Fortress for $113,000 compared to about $3.8 million Fortress had cla...

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