Allied Nationwide Finance performing loans up for sale

The receivers for Allied Nationwide Finance are seeking to sell the finance company's performing loans.

They are also seeking expressions of interest for performing receivables in Spiers Securities Ltd, which include business-related finance leases, consumer finance and conditional purchase agreements and other loan receivables, principally secured by motor vehicles and other chattels.

The Allied Nationwide Finance and Spiers Securities portfolios can be purchased jointly or separately but all loans within each portfolio must be bought as a whole.

Andrew Grenfell and Kerryn Downey of McGrathNicol were appointed receivers and managers of Allied Nationwide Finance on August 20 last year. The company was a unit of Allied Farmers.

NZPA

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