PricewaterhouseCoopers partners Greg Hall and Phil Carter have been appointed Receivers and Managers of Elderslie Finance Corporation Limited and 15 of its subsidiaries on 2 July 2008.
Elderslie Finance Corporation is an unlisted structured finance and investment group operating throughout Australia.
The appointment was made by Perpetual Trustees WA Limited acting on behalf of secured creditors holding 3,330 debentures. There are also 760 unsecured notes on issue. The noteholders are represented by Permanent Nominees.
The total liabilities of Elderslie Finance Corporation and its subsidiaries are estimated to be around $400 million.
PricewaterhouseCoopers partner Greg Hall says, “As Receivers and Managers we will be working closely with the Trustee and are focussed on the interests of the debentureholders"
“We will be preparing a circular to provide further information to debetureholders. The circular will be sent by post to all debentureholders during the course of the next few days.”
This circular and relevant information for debentureholders will be available on www.pwcrecovery.com in the Businesses Under Management section, Elderslie Group.
For further enquiries debentureholders can call 1300 788 510 or email efcl@au.pwc.com
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