Originally Posted by
Lizard
Yes - except that there wasn't that amount of debt in the Hanover Group Charging group accounts at June 2009 that were released prior to the transfer - not bank debt. May have been in the overall Hanover Finance Ltd accounts, at least in part (they are on the companies office - the charging accounts aren't, but I retrieved a cached copy from the Hanover site the day after the deal). So if the debt went with the assets to Allied, then I am wondering if it was actually individual loans against individual projects such as Matarangi, that were then re-financed across all of the Allied assets... which must surely have transferred risk from the banks to the Hanover investors?
Maybe there is more detail in the Grant Samuel report which I never got to get a copy of... but none of the docs I can find say anything about transferring liabilities with those assets, eh?
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