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Future of
Mainline
undecided
SYDNEY, Monday.—
The receiver-manager of
Mainline . Corporation
Ltd, Mr J. H. Jamison,
said today he still did
not know whether the
, company was economi
cally viable, or whether
it would necessary to
sell off some of its over
seas assets to pay credi
tors. * '
He said lie could not say
when an announcement on
its future would be made.
A week ago Mainline Cor
poration Ltd, one of Aust
ralia's largest property-devel
opment and construction
groups; went into receiver
ship as a result of the Fed
eral Government's credit
squeeze.
Mr Jamison took over the
running of the company to
try to trade it out of its dif
ficulties.
Hundreds of sub-contract
ors are wholly dependent on
Mainline for income from
its many job sites around
Australia. •
At the time of taking over
Mr Jamison said he hoped
to decide Mainline's future
by today but today he said
he had not yet reached a dec
ision.
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