Banks set to control asset sales - Zibb.com

Nov 05, 2008 (The Australian Financial Review - ABIX via COMTEX) --

Allco Finance Group's bankers will take control of the sale of its assets. It is thought that Allco had rejected some offers for its aircraft and shipping assets as being too low. Banks are likely to take a commercial attitude, accepting lower prices. Seven listed vehicles related to Allco were placed in trading halts on 5 November 2008 until the receivership is clarified.

Publication Date: 6 November 2008

ALLCO FINANCE GROUP LIMITED - ASX AFG
GLOBAL AVIATION ASSET MANAGEMENT PTY LTD
QANTAS AIRWAYS LIMITED - ASX QAN
JETSTAR AIRLINES PTY LTD
BRITISH AIRWAYS PLC
RYANAIR HOLDINGS PLC
TERRA FIRMA PTY LTD
FERRIER HODGSON AND COMPANY
WESTPAC BANKING CORPORATION - ASX WBC
COMMONWEALTH BANK OF AUSTRALIA - ASX CBA
ABN AMRO BANK NV
McGRATH NICOL AND PARTNERS SERVICES PTY LTD
RECORD REALTY - ASX RRT

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Tags: aircraft   australia   aviation   bank   banking   cba   commercial   finance   prices   sales   shipping  

Companies: Allco Finance Group Ltd (AOFNF)

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