Alliance debt down to £3m following sale.

The sale of troubled intermediary Alliance Insurance Centres to
broker 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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