Scepticism over Hanover-Allied deal
The $400 million deal by Allied Farmers to buy assets from Hanover Finance has been greeted with scepticism.
The $400 million deal by Allied Farmers to buy assets from Hanover Finance has been greeted with scepticism.
Hanover owners Eric Watson and Mark Hotchin are tipped to come off well from a proposed deal to bail out investors.
Treasury has tweaked the retail deposit scheme to help companies wean themselves off Crown support.
Allied Farmers has signed an agreement with Hanover Finance and its subsidiary United Finance worth approximately $400 million.
A big chunk of the surviving finance company sector is unlikely to outlive the retail deposit guarantee.
Reserve Bank Governor Alan Bollard has issued a warning to banks about the perils of approving high-risk mortgages.