2 Sep 2004

Receivers deny hindering Nauru government efforts to refinance their debts

3:43 pm on 2 September 2004

Sydney-based receivers PPB have denied they are hampering Nauru's efforts to refinance its loan with American company General Electric Corporation.

PPB's Steve Parberry dismisses claims by Nauru's finance minister that efforts by financiers to raise funds are being hindered by his Government's inability to access documents, which requires the co-operation of the receivers.

Mr Parberry says any claim of hampering is just misinformation from someone who is ill-informed about the process...

"In fact, it's quite to the contrary, the Nauruans have been in control of most of this information themselves and would have greater information than we would have. I think there's quite a good little bit of misinformation that does come out of the Nauruans from time to time. It's more through an ignorance and knowing how these things work"

Meanwhile, Steve Parberry says the sale process is ongoing for Nauru's three main remaining property assets in Australia.