Sun | Nov 28, 2021

Cash Plus receiver manager expected in court

Published:Monday | May 5, 2008 | 12:33 PM

The court-appointed co-interim receiver manager for Cash Plus Limited, Kevin Bandoian is expected to make a report to the court on the state of the company’s finances today.

Bandoian was appointed co-interim receiver manager by the Supreme Court on March 31 and given 35 days to submit his report.

The receiver manager was charged specifically to collect Cash Plus Limited’s assets, and see to the discharge of the liabilities to the company’s creditors.

The Supreme Court is expected to make a determination regarding when payments can commence based on Bandoian’s report.

Last month the receiver manager announced that the date for repaying customers would be pushed back from the April 14 date announced by Cash Plus Boss Carlos Hill.

He disclosed that Cash Plus had no money to begin repayments, as scheduled and there was no indication if, or when the repayments would begin.