
News
Allied Nationwide crumbles into receivers' arms
Friday 20th of August 2010
The unit of Allied Farmers has asked trustee NZ Guardian Trust to appoint receivers after running out of time to remedy a breach in its Trust Deed ratio. It had until 5 pm today to save itself. It has about $130 million owed to about 4,500 depositors.
"The Crown stands fully behind its guarantee commitments and we expect an orderly process of payment to eligible Allied Nationwide Finance...
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