Maxwell hope

Saturday 26 June 1993 23:02 BST

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MAXWELL pensioners are to receive a boost from the sale of 8 million shares in Teva Pharmaceutical, the Israeli drug company, worth nearly dollars 170m (pounds 115m).

Half the stake is held by Robson Rhodes, the liquidators of the pension funds, and the other half by Lehman Brothers, the US securities house. But the latter is claimed by the pension funds. Robson Rhodes has dropped its claim on the Lehman shares to allow the sale, but it retaining a claim over the proceeds.

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