Wellington, July 25 NZPA - The principal of collapsed Tauranga share broker and investment advisory firm Von Dadelszen and Co and related company, Ravenscourt Finance, has agreed to pay all creditors in full, the liquidators said today.

Liquidators Rodewald Hart Brown (RHB) said Andrew Von Dadelszen had made a substantial payment to the companies towards meeting payments due to creditors and had made arrangements to ensure the balance was met in full within one month.

The companies had losses estimated to be over $500,000 and went into liquidation on July 14.

Many of Von Dadelszen and Co's clients are waiting for money from share and fixed interest transactions conducted through share broker First NZ Capital.

Mr Von Dadelszen, an Environment Bay of Plenty councillor, cut short his two-week visit to Australia -- included plans to attend the All Blacks-Australia rugby test in Sydney tomorrow -- to try to sort out the companies' affairs.

Von Dadelszen and Co acted as an intermediary broker, but was not a member of NZX, and passed on orders to buy and sell shares to First NZ Capital.

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