	crime control assets to be sold to hawley crime control inc said it reached a definitive agreement under which a subsidiary of hawley group ltd will buy assets and assume certain liabilities of crime control for mln dlrs of this amount it said about mln dlrs would be available for distribution to the company s banks debenture holders and shareholders the balance would be used to pay various state taxes and other expenses relating to the transaction and to establish reserves to provide for certain unassumed obligations of the company crime control said it would use proceeds to pay its bank lenders approximately mln dlrs representing about pct of the principal amount of all its indebtedness to bank lenders it also said it would propose to uire all of its mln dlrs worth of outstanding pct convertible subordinated debentures for an aggregate of approximately mln dlrs and propose liquidation of the company with shareholders receiving an estimated cts a share as reported earlier crime control is in default on approximately mln dlrs of bank debt and in default under the indenture governing its convertible subordinated debentures on january crime control which installs services and monitors electronic surveillance systems said it retained rothschild inc to arrange for the sale of the company reuter 
