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Bondholders to vote on rescue package
Monday 10th of April 2000
Bondholders in the troubled Ballantyne Property Bond will vote, next week, on a rescue package designed to give them the bulk of their $8 million of principal back.
The Ballantyne bond raised $8 million from the public in 1998 to fund the development of an 18-hole golf course and 150 unit residential development near Katikati, west of Tauranga.
The initial interest payments were made...
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