Allco Financial Group was a fully integrated global financial services business, listed on the Australian Securities Exchange and headquartered in Sydney. Major services provided were structured asset finance, funds management and debt and equity funding. At one stage before liquidation, Allco had over A$4.3 billion in assets, and had 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.[1]
History
Allco Financial Group was founded in 1979 by David Coe to originate and arrange structured finance transactions for aircraft, ships and rolling stock.[2] Over the years, Allco grew to provide funding for other services, including infrastructure and commercial finance.