News

Allied Farmers collects $2.45m from Bridgecorp's receiver

Tuesday 26th of July 2011

The proceeds will go to the receiver of Allied Farmers' former finance company, Allied Nationwide Finance. Allied Farmers owes the finance company $7.5 million. The receiver allowed Allied Farmers to avoid receivership by extending the due date from July 1 to March 31 next year.

Allied Farmers says the loan proceeds had been withheld because of claims against Bridgecorp by the Inland Rev...

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