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Dominion Finance bad debt provision exceeds $80m
Monday 1st of September 2008
"The board has no choice at present but to try and secure agreement for the orderly wind-down of the subsidiaries, exceed the loan recovery estimates and look for ways to improve the return to capital note holders and shareholders," chief executive Paul Cropp in a statement. Trustees of Dominion Finance rejected a bailout plan last week, forcing the company to put a proposal to stockholders a...
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