Allco has over
A$4.3 billion in assets, and has financed over A$60 billion of transactions. In its most visible public transaction Allco was a part of
Airline Partners Australia, the consortium that unsuccessfully attempted to buy
Qantas. The company is now in liquidation, after previously being in
administrative receivership, following difficulties in refinancing debt and a share price fall of 99% since the beginning of the
subprime mortgage crisis.
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And here lays the problem. These clowns and their zealous desire to fill each others pockets with ludicrous amounts of wealth at any cost and recklessly are one of the driving forces behind the current economic disaster swallowing the globe. If the same mentality and mindset is driving QF then folks the Rat is doomed....