Troubled debt-chasing outfit Collection House finally grasped a lifeline, selling off a chunk of its assets in a cut-price deal to industry rival Credit Corp.
The $160 million sale of ledgers – bundles of debt purchased from institutions such as banks – means Brisbane-based Collection House will now book a loss of $145.1 million for the past financial year.
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Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane. Email Liam at liam.walsh@afr.com.au
