LONDON (Thomson Financial) - Accuma Group Plc. said its loan broking
division Loan Line (Holdings) Ltd. and its subsidiaries (together the Loan Line
Group) has convened a meeting on Oct. 14 to appoint a liquidator to put the Loan
Line Group into a creditors voluntary liquidation.
Accuma had said on Sept. 18 that it was reviewing options for the Loan Line
Group.
For the six months to end-June, the Loan Line Group incurred a loss of
196,000 pounds and had net liabilities of 81,181 pounds on June 30, Accuma said.
The company said the closure of the Loan Line Group will result in a write
off of about 600,000 pounds intercompany liability and an additional net cash
outflow of around 90,000 pounds in settlement of liabilities due to the Loan
Line Group.
Accuma said it had net cash of 1.5 million pounds on June 30.
TFN.newsdesk@thomson.com
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