Australia: Agrifunder in Administration After $150m Rescue Deal Fails
One of Australia’s biggest financiers of cattle purchases, Agrifunder, has collapsed after its wholesale funders withdrew their support on account of too many farm loan arrears.
An unusual combination of record production and strong cattle and beef prices was no help to Agrifunder, which has now gone under twice. Its previous stint with administrators related to a shareholder loan not being rolled over due to warring factions on the board.
This time around it’s understood Agrifunder was brought down by dud lending and a blow-up with its backers. Major investors such as IFM have pulled the pin...
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