Comments on (02) 9632 3678

Search Results for (02) 9632 3678

Names found on this computer

Guildford

Address

6 Clarke St, Guildford NSW 2161, Australia

History

7 older records found on this number.

Phone Type

Local Service

Latest Holder

Telstra Corporation Limited

Numbering Area

Bankstown

Last Found

August 2021

Other Formats

0296323678
/9632-3678
/96323678
/(02) 9632 3678
/+61296323678

Comments on (02) 9632 3678

her

Posted on December 23, 2015
Caller type: Debt Collector
Location: Australia
THE AUSTRALIAN


ACM Group aborts $300m IPO

FEBRUARY 26, 2014 12:45AM

Debt collecting business ACM Group has shelved plans to raise up to $300 million in an initial public offering in the first half of this year, three people familiar with the situation said.

ACM, which appointed UBS AG and Macquarie Group in August last year to explore an IPO, is owned by prominent racing identity Bert Vieira. It buys bad debts including credit card, personal overdraft debt and phone accounts, from clients including Telstra Corp, National Australia Bank Ltd, Westpac Banking Corp, and Commonwealth Bank of Australia Ltd.

Mr Vieira, who turned 64 in January, told The Wall Street Journal last August that "I'm not getting any younger, and the IPO will allow me to reward some of my long-standing staff by issuing them shares."

ACM had hoped to join competitors like Collection House and Credit Corp on the Australian Securities Exchange. Shares in Collection House rose 27.7 per cent last year, while Credit Corp fell 2 per cent.

The cyclical nature of debt collecting means that the profit recovered from bad debts can fluctuate wildly. Corporate clients are less likely to sell claims in arrears at a steep discount when the economy is stable, reducing margins for groups like ACM, one of the people said. That's a challenge for some institutional investors seeking steady income and dividends from IPOs, he said.

ACM suffered a setback in late 2012 when the Federal Court of Australia found the debt collector had engaged in "widespread" and "systematic" misleading and deceptive conduct through its recovery operations. The case was brought by the Australian Securities and Investments Commission, the country's securities regulator, on behalf of eight debtors.

The court found ACM had threatened to call friends, employers and neighbors of debtors, block their overseas travel and turn up to their workplaces in marked cars. ACM was ordered to pay ASIC's costs in the case.

Paul Brabazon, ACM's chief operating officer, said late Monday that discussions with advisors UBS and Macquarie were progressing. He declined to comment on other possible exit options for Mr Vieira.
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Jenny R

Posted on December 22, 2015
Caller type: Debt Collector
Location: Australia
ACM GROUP are debt collectors. They've been accused of harassing debtors. Here's some interesting reading on the court findings of ACM GROUP.
Heres the link:
http://www.smh.com.au/national/court-releases-debt-collection-agencys-vicious-recordings-20121114-29c2t.html

If you believe that you have been harassed by ACM GROUP /CREDIT CORP you should make a complaint to ASIC or to the financial ombudsman in your state or territory.
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