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'In default' iProsperity puts Agricultural Land Trust profit in doubt

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A loan payment dispute between ASX-listed Agricultural Land Trust and prominent property fund manager iProsperity Group has reignited, more than a month after iProsperity boss Michael Gu said things were "back on track" following a "misunderstanding over fees".

The A-REIT minnow majority owned by Western Australia land mogul Allen Caratti exited a five-day trading halt on Monday to warn it may have to restate its interim accounts and report a loss, after an iProsperity subsidiary failed to pay the full amount of interest owed on loans due at the end of February.

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Larry Schlesinger writes on real estate, specialising in commercial and residential property. Larry is based in our Melbourne newsroom. Connect with Larry on Twitter. Email Larry at larry.schlesinger@afr.com

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    Original URL: https://www.afr.com/property/commercial/in-default-iprosperity-puts-agricultural-land-trust-profit-in-doubt-20200309-p5486e