Becton delays payment for ACR
Becton Property Group is seeking to defer payment on a final instalment of $56 million to PricewaterhouseCoopers as liquidator of Australian Capital Reserve, a failed property development financier, the Financial Review reported.
Creditors of Estate Property Group, the owner of ACR, accepted a buyout proposal for Becton last year that in theory earned a return of about 60 cents in the dollar to investors in the firm's debentures and unsecured notes.