Things go from bad to worse for crane hire group Peterhead

Remember Peterhead, the much unlamented crane-hire group that was ejected from the Irish stock market after sending out a circular…

Remember Peterhead, the much unlamented crane-hire group that was ejected from the Irish stock market after sending out a circular on an acquisition to shareholders the regulators felt was so deficient in information the shareholders "would be unable to make an informed assessment on the transaction". Well, things have gone from bad to worse for Peterhead and its woebegone shareholders with the Bank of Scotland having just sent in a receiver on the basis of a 1997 debenture. Peterhead's business is mainly based in Britain and for the information of Irish creditors, the receiver is Roger Marsh of PricewaterhouseCoopers in Leeds.

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