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Tasman Pacific Airlines In Receivership

Tasman Pacific Airlines of NZ Limited(In Receivership & In Liquidation)

Jeff Meltzer and Arron Heath of Meltzer Mason Heath, liquidators of Tasman Pacific Airlines of NZ Limited (in receivership and in liquidation), announced today that they intend paying an interim dividend of 10 cents in the dollar to unsecured creditors of the company.

Mr Meltzer advises that the interim dividend payment would be made to creditors during the week commencing 4 October 2004.

“The liquidators are pleased that settlements and realisations to date have enabled the interim dividend to be paid to creditors,” said Mr Meltzer.

Outstanding matters before the liquidation is completed include finalisation of the company’s receivership and the outcome of a pooling application by the liquidator of Tasman Pacific Regional Airlines Limited, a subsidiary of the company.

The liquidators expect that the liquidation will be completed during 2005.

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