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Slow progress with Metropolis repayments
Tuesday 11th of September 2001
Tower Trust general manager Glenn Clark has written to the 1700 investors, who hold $21 million worth of bonds, to give them some good and some bad news.
The good news is that another $6.6 million worth of apartments have been sold recently. The bad news is that all the proceeds of those sales (after commissions) is being used to repay first mortgage holde...
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