SYDNEY: Pioneer Credit Limited has acquired a significant Part IX (Insolvency) Debt Portfolio from Max Recovery Australia Pty Ltd (‘Max’) for a total consideration of $15.8m. Max Recovery Australia recently undertook a strategic review of its Australian operations and decided to exit the Australian market and sell its Australian-based Debt Portfolio. Notably, Pioneer has been…
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Pioneer Credit enters five year ‘forward flow’ agreement with CBA
SYDNEY, AUSTRALIA: Pioneer Credit Limited (ASX: PNC) has entered into a five year agreement with the Commonwealth Bank of Australia (‘CBA’) to acquire debt portfolios. The agreement is expected to require an annual investment of up to $35 million and will be funded from cash flow. Managing Director, Keith John noted that Pioneer has worked…