Allied Farmers may lift loan book value by $276K as IRD lurks with liquidator’s axe

Tue, 28 May 2013

By Paul McBeth May 28 (BusinessDesk) - Allied Farmers, which kept itself alive in March through a fire sale of toxic loans, may lift the value of its loan book by $274,000 as the Inland Revenue Department threatens to wind up its rural operation to recover unpaid tax. The Hawera-based company’s board, which is finalising its 2013 accounts, “considers it appropriate to advise that indicatively the net positive impact of the assessment will be approximately $276,000.” It made the statement one day after receiving a notice to liquidate its Alli...

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