Oceania

Groups related to collapsed Allco Finance Group warned today the failure of Allco may have triggered defaults on debt facilities, The Australian reported today. Real estate managers Rubicon Japan Trust, Rubicon America Trust and Rubicon Europe Trust Group said they were in talks with various lenders about the implications of Allco Finance's situation. All three entities were suspended from trade. Rubicon America Trust said that defaults on two debt facilities may have been triggered by Allco Finance's collapse, although it was not clear in the documentation for the loans.
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