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Article: Montague's assets `cover loans'
- Article from:
- The Independent (London, England)
- Article date:
- September 19, 1994
- Author:
CopyrightCopyright 1994 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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ROBERT Montague, the Tiphook chief executive whose personal
debts have been estimated at more than pounds 30m, has told
creditor banks that he has sufficient assets to cover his
liabilities.
The head of the trailer rental group also said he was meeting
the terms of a pounds 2.3m loan from Royal Bank of Scotland, which
last week filed a bankruptcy petition against him. Yesterday, the
petition had still not been served.
Ian Clubb, the incoming chairman of Tiphook, which has been
renamed Central Transport Rental Group, has said he needs to keep
Mr Montague on the board to help solve the company's financial
crisis. If he is declared bankrupt, Mr Montague will be
disqualified from being a ...