Allied Farmers tries to cobble together loan repayment as liquidation hovers

Sun, 03 Mar 2013

March 4 (BusinessDesk) - Allied Farmers, which reported a further $4.1 million writedown on its ex-Hanover Finance assets last week, is trying to cobble together a loan repayment by the end of the day in a bid to stave off a potential liquidation. The Hawera-based company is in talks with various parties, including secured lender Crown Asset Management on a repayment proposal to a different creditor, who called on a loan to be paid by the end of today. Allied owes $540,000 including interest, secured over a $3.75 million loan asset that it h...

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