Taxman comes calling on Allied Farmers for $3.7M

Mon, 25 Feb 2013

By Paul McBeth Feb. 25 (BusinessDesk) - Penny-dreadful stock Allied Farmers is teetering closer to the abyss after the Inland Revenue Department issued a statutory demand for $3.7 million in outstanding debt and adding another default event to the failed finance company. The tax department is requiring payment from Allied Farmers Rural within 15 working days of Feb. 14, when the company advised IRD it was in talks with its secured lender Crown Asset Management. The demand is another enforceable event, and comes two weeks after an unnamed sec...

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