Duncan Hughes
eChoice, an award-winning mortgage aggregator with more than 400 brokers, could be sold to a ‘major financial institution’ after being placed into voluntary liquidation because of unsustainable debt.
Tony Wales, a director of eChoice and Welas, a private investment company, which is a secured creditor of eChoice, called in liquidators’ Rodgers Reidy after deciding that he could no longer support the group in its current form.
A spokesman for the liquidator said eChoice is in liquidation because of an “unsustainable historical debt burden to Welas Pty Ltd, which had supported the group for many years but formed the view that it could no longer continue support”.
Thirteen subsi…
Read the full article at: http://www.afr.com/real-estate/unsustainable-debt-forces-mortgage-broker-echoice-sale-20171128-gzusby
