1 Sep 2004

Tongan airline liquidator still waiting for creditors to come forward

10:14 am on 1 September 2004

The liquidator for Royal Tongan Airlines says he hopes all the creditors for the failed carrier will come forward by the end of the month.

The Auckland-based accountant Richard Agnew, of PricewaterhouseCoopers, says former Royal Tongan staff and unsecured trade creditors have come forward.

Mr Agnew says a lot of the claims equal those made in company records.

But Mr Agnew says there are still a couple of what he calls critical creditors who have yet to agree on the amount of money which they claim they are owed.

Mr Agnew says he hopes the total sum of money claimed by creditors will become clear at the end of the month:

"There's two aspects to completing the work; there's realising the assets, and we are making good progress there, and we would hope to be in a position to complete a lot of that by certainly within the next couple of months."

And then also quantifying the amount of debts, and one would hope within the next month, we would have quantified that part of the assignment.