Fincorp collapse echoes Westpoint.

Australasian Business Intelligence,  April, 2007  

• E-mail
• Print
• Link

Byline: Madeleine Collins

Apr 04, 2007 (Independent Financial Adviser - ABIX via COMTEX) -- Fincorp, the Sydney-based property developer, was placed in the hands of liquidators KordaMentha on 23 March 2007. This follows its recent collapse, which has left it owing $A200 million to retail investors and $A90 million to unnamed financial backers. Its failure comes only a few weeks after First Capital Group had advised the Australian Stock Exchange that it was intending to acquire Fincorp. David Winterbottom, of KordaMentha, said it will probably be ...

Read the rest of this article with a Free Trial at HighBeam Research.