Gulf & Pacific fails to extend convertible debentures

New York, Jan. 27 - Gulf & Pacific Equities Corp. said a meeting of holders of its convertible debentures due Nov. 18, 2009 turned down its request to extend the maturity to Nov. 18, 2014.

The proposal was rejected "by a small margin" of those present at the meeting Tuesday, the Toronto-based shopping center owner said.

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