Hotchin company assumes $44m debt on Fiji development

Like a sequel to a bad movie, Hanover's residual finance company has taken back some of the loan "assets" it dumped on Allied Farmers back in December 2009.

Allied Farmers, still beholden to the government through financing from Crown Asset Management, has just assigned $44 million of debt on a failed Fiji development to HF Residual Obligations Ltd, a company owned by one of Mark Hotchin's associated trusts.


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