ALF - Allied Farmers Limited

[Vaygor1]

No.it is tax afrl owes. Directors don't pay it out of their pocket.though the salaried people have probably been paid in preference to ird.

By 'they' I did mean ALF and/or its subsidiaries. I would be upset to find any company putting its tax obligations in front of its staff salary apart from CEOs, and CFO's that is, or Directors (who are not classed as staff).

[Vaygor1]

Just saying that if I was in receipt of a demand for 3.7M from the IRD - it would worry me. I hope it worries ALF as well. Even if it is partitioned off from NZ Farmers Livestock or whatever else.

I agree. But their news today barely mentions it.

[Balance]

Just saying that if I was in receipt of a demand for 3.7M from the IRD - it would worry me. I hope it worries ALF as well. Even if it is partitioned off from NZ Farmers Livestock or whatever else.

Why worry? Whether you are 1m or 10m under water, it does not really matter if you cannot swim.

That's ALF today.

[Balance]

https://www.nzx.com/companies/ALF/announcements/232797

Statutory demand served on 11th Feb. 15 working days up on 4th March.

Tick ...tick ...tick.

CAM to bail out again?

The secured lenders are playing this one smart - just keep applying the pressure and CAM keeps coming up with the money.

Don't you just like it - taxpayers sucking the incompetence and gross mismanagement of these finance companies nincompoops big time - courtesy of the pimpled faced manadarins at Treasury and Reserve Bank.

[minimoke]

15 days up today. No confirmed repayment arrangement. If no arrangement liquidators to be called in by the creditor

[minimoke]

Nz shareholders association accept their comments on hotchin and Watson were incorrect. Seems these two might have acted properly, or at least not improperly, over the Hanover debt restructuring proposal. Alfs misfortunes lie on their own shoulders.

[Xerof]

Gosh, they must be 'surprised' that CAML haven't stepped up with taxpayer money....

last call gentlemen........

'shortly' in the context of next step, probably means tomorrow morning

[minimoke]

There will be some irony if it is Hanover who is the $500k creditor and they commence liquidation which brings alfs Hanover numpties hopes of financial gain to an end

[Balance]

Nz shareholders association accept their comments on hotchin and Watson were incorrect. Seems these two might have acted properly, or at least not improperly, over the Hanover debt restructuring proposal. Alfs misfortunes lie on their own shoulders.

More like "some of their comments".

Acted properly? That's for the Sheppard vs Hotchin n Watson case to determine?

ALF's misfortunes of course lie on the directors' shoulders - a bunch of incompetent nincompoop who earned fees a plenty from ALF even while ALF was bleeding to death.

Now, sue me!

[Vaygor1]

There will be some irony if it is Hanover who is the $500k creditor and they commence liquidation which brings alfs Hanover numpties hopes of financial gain to an end

Hi Minimoke.

I assume you are referring to http://www.scoop.co.nz/stories/BU130...e-sheppard.htm or similar story. Saying something untoward is one thing. Proving ones words with evidence is another.
I still wonder where the case the SFO has been building against them for years has gone.
Refer http://tvnz.co.nz/breakfast-news/fin...-video-5114890

There will be some irony if it is Hanover who is the $500k creditor and they commence liquidation which brings alfs Hanover numpties hopes of financial gain to an end

The $540k creditor has still not reached the brink yet.
Does the creditor want the money, or the asset? When the crunch comes they may just want the money.
Further, if the said creditors calls are unreasonable, then a court may elect that marshalling will come into play.

Has the fat lady finished cleaning her teeth yet?