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Allied's $220 million write-down may understate recoverable loans
Tuesday 9th of March 2010
The brokerage points out that the rules required under International Financial Reporting Standards may significantly understate what value Allied could extract from its new loan assets in gross loan realisations.
"What is clear, and what was already known, is that the loan realisation process will be a long and potentially litigious one," it said. "The early resolve and conviction Allied...
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