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AssetCo settles one creditor but faces another claim

By BFN News | 01:42 PM | Tuesday 29 March, 2011

Fire engine owner AssetCo has repaid a substantial creditor in full - but it now faces another claim and still faces a winding up petition. AssetCo - which last week raised £16m through a placing - said that while the repaid creditor had withdrawn from the petition, another has been substituted. AssetCo says that while it is in a position to make this payment, the new management team are determined to ensure full process and investigation is made of any calls for payment, so the hearing has been adjourned for fuller determination. At 1:42pm: (LON:ASTO) share price was 0p at 12.5p Story provided by

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