laurie Posted March 30, 2005 Posted March 30, 2005 It appears Teac has gone belly up in Australia!! Story cheers laurie
Timmy Downawell Posted March 30, 2005 Posted March 30, 2005 Tsk, tsk, Laurie... there are two threads about this already (abeit in the wrong sections). And it's only voluntary administration, not receivership.
laurie Posted March 31, 2005 Author Posted March 31, 2005 Tsk, tsk, Laurie... there are two threads about this already (abeit in the wrong sections). Yep guilty wasn't too sure what section to put it in! And it's only voluntary administration, not receivership. True..but it's the next step is it not? cheers laurie
Timmy Downawell Posted March 31, 2005 Posted March 31, 2005 And it's only voluntary administration, not receivership. True..but it's the next step is it not? <{POST_SNAPBACK}> Voluntary admin is when the company calls in administrators to sort out their financial mess (hopefully). Receivership happens when secured creditors get antsy and lose faith in them resolving the problems, so it's the creditors who call the receivers in AFAIK.
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