Alliance debt down to £3m following sale.
The sale of troubled intermediary Alliance Insurance Centres to broker HSBC is expected to reduce it...
The sale of troubled intermediary Alliance Insurance Centres tobroker HSBC is expected to reduce its overall debt to insurance creditors
to £3m over the next three years.
The telebroking outfit faced collapse last year with debts to insurers of
about £17m, but was saved by a rescue package put together by its
guaranteeing broker Thompson Heath & Bond.
Over the past nine months, THB has worked with Alliance's 22 insurance
creditors, including AXA Provincial and Bishopsgate, to get its debt down
to
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