AFG 0.47% $2.15 australian finance group ltd

afg calls banks bluff

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    The recent announcements by AFG indicate they are pushing the banks for an extension by making it known publicly."Now is not the time to sell assets at low prices".

    Allco said it believed there were good grounds for the reschedule, given the extreme difficulty in selling assets in the current environment.

    "The directors do not believe it is prudent to transact at unacceptable price levels," the company said.

    Allco requested the banks come to a decision by the end of the month.

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