27 Nov 2010

Hanover Finance to take action against Allied Farmers

6:05 am on 27 November 2010

Hanover Finance plans to file legal action against Allied Farmers this week after the rural services company refused to pay about $5 million owed to the failed finance company.

It says the money is owed as part of its contractual obligations when Allied Farmers acquired the loan book from Hanover last year.

Independent director David Henry confirmed that Hanover directors are co-operating with inquiries into Hanover by various regulatory authorities and their information requests.