Sale casts doubt on asset values reported by Allied Nationwide
TIM HUNTER
The sale of a 22-metre luxury motor launch for a sixth of its alleged value has cast doubt on other asset values reported by failed finance company Allied Nationwide.
The vessel, Absolute, was recently sold by the receivers for $220,000, after having been listed in January last year as worth $1.3 million.
Marine broker Neil Gurran, who was appointed by Allied Nationwide to sell Absolute last January, said the company Read more [...]