Hints and tips:
...And Allco Finance Group is seeking a sale to HNA Group and Bravia Capital Partners, a US private equity firm....
...Babcock & Brown Aircraft Management and the aircraft business of Allco Finance Group, both subsidiaries of Australian companies in administration, are also on the block....
...Allco directors are expected to defend vigorously their corporate governance records during their time on the board....
...The Sinochem offer gives Nufarm an enterprise value of US$3.3bn, eclipsing the US$3bn purchase of Allco Finance’s aviation business by Hainan Airlines and Bravia Capital....
...The winners of the auction for Allco’s aviation arm have struggled to persuade the Australian firm’s investors to accept their offer....
...High-profile corporate failures include ABC Learning Centres, Allco Finance and Babcock & Brown, the investment group....
...RiskMetrics, the corporate governance adviser, had recommended a vote against Sir Rod’s re-election because of his role as a director at Allco Finance Group, the Australian investment company that collapsed...
...George Bank last month, reported a 93% increase in bad debts last fiscal year after making loans to failed companies including Allco Finance and ABC Learning Centres....
...While Commonwealth is in good shape with no systematic credit issues, its exposure to collapsed companies, such as Centro, ABC Learning Centres, Allco and Lehman Brothers, means bad debts are likely to double...
...Allco is in talks with its lender to extend its debt repayment schedule. National Australia Bank on Tuesday sought to soothe investor uncertainty by releasing its full-year results 10 days early....
...Allco entered receivership earlier this month....
...Analysts said recently that Australia’s top banks – NAB, CBA, ANZ and Westpac/St George – had set aside just over A$3bn to cover bad debts on a handful of bankrupt companies, including Allco Finance and...
...last week said Australia’s top five banks – NAB, CBA, ANZ, and the soon to be merged Westpac and St George – had already set aside A$3.1bn to cover bad debts on a handful of bankrupt companies, including Allco...
...Former BA chief Rod Eddington, for example, was a director of Allco Finance, when it joined the buy-out consortium bidding for Qantas two years ago....
...Allco Finance, the Australian asset manager, had its life support switched off this week, failing with debts of A$1.1bn....
...top five banks – NAB, Commonwealth Bank of Australia, ANZ, and the soon to be merged Westpac and St George – had already set aside A$3.1bn to cover bad debts on a handful of bankrupt companies, including Allco...
...Commonwealth Bank of Australia said provisions for the first half were likely to rise due to exposure to Lehman Brothers, Allco and ABC Learning Centres. Its shares dropped 6 per cent to A$33....
...That is a blow for Allco, which had a market value of A$5bn a year ago....
...Allco shares have fallen by 95 per cent since their peak in February 2007....
...However, Allco Finance shed 8.7 per cent to A$0.26 after news that Rubicon Japan Trust, a fund it manages, had problems meeting its margin calls....
...In Australia, shares of Allco Finance, the troubled financial services company, plunged 29 per cent to A$0.62 after three of its executive directors announced they would step down....
...“[Allco] had a big effect on the Australian market,” said Mr. Daley....
...Shares of Allco Commercial Real Estate Investment Trust, traded in Singapore, jumped 7.2 per cent to S$0.815....
...Allco Finance fell by 9.5 per cent to A$0.43....
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