More for DML creditors

The liquidators of mining company DML Resources, once part of the failed Skellerup Group, have brought in a further $1.06 million after successful negotiations with an Australian sister company.

The New Zealand company was the largest creditor of the Australian company.

As a result, the liquidators will pay a further dividend of 10c in the dollar to all admitted unsecured creditors and another 19c to a range of other creditors.

The distributions mean creditors will soon have received at least 75c in the dollar. DML Resources was placed in receivership in 1997 owing $19.5 million.