Thorn Group is the latest lender to disclose that it had an exposure to the Forum Group of companies, revealing on Friday that it has up to $2.2 million of funds tied to the firm at the centre of a $400 million alleged fraud.
The ASX-listed financier, which owns the Radio Rentals brand, included the information in its target statement to the market in the wake of an unsolicited bid by Somers Group, which the board urged shareholders to reject.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
Max Mason covers insolvency, courts, regulation, financial crime, cybercrime and corporate wrongdoing. A Walkley Award winner, Max's journalism has also received awards from the National Press Club of Australia, the Kennedy Awards and Citibank. Message Max on Signal https://tinyurl.com/MaxMason Connect with Max on Twitter. Email Max at max.mason@afr.com
