Alliance Factoring

[Charlie Wong]

There was some talk in here recently about "Alliance Factoring" and
Telstra.

Some of you may find some joy in the following:

Baycorp Aussie unit probed
May 3, 2005

Debt collection group Baycorp Advantage says an Australian unit is
being investigated by the competition watchdog, the Australian
Competition and Consumer Commission.

Baycorp says Alliance Factoring has been asked to furnish information
and documents for an inquiry into debt recovery procedures.

Alliance buys debt ledgers at less than face value and then seeks to
recover the debt, and it generated about 5% of Baycorp's revenues last
year.

Baycorp managing director Andrew Want says the group is co-operating
fully with the ACCC.
<http://tvnz.co.nz/view/news_business_story_skin/532305%3fformat=html>

Baycorp's Australian unit under scrutiny
03 May 2005

The Australian unit of trans-Tasman debt collector BayCorp Advantage
has come under scrutiny by the Australian competition watchdog,
BayCorp said yesterday.


The Australian Competition and Consumer Commission (ACCC) has
requested information on the procedures followed by Alliance Factoring
in its debt collection operations since June, 2002.

The ACCC is conducting an inquiry on those procedures and wants
Alliance to supply "information and documents", BayCorp said in a
statement to NZX.

BayCorp said both it and Alliance were co-operating fully with the
ACCC.

"The inquiry is at an early stage and it is not yet possible to
quantify the financial effect, if any, on Alliance," BayCorp said.

Alliance purchases debt ledgers in Australia at less than face value
and seeks to recover the debt as principal, for its own account.
<http://www.stuff.co.nz/stuff/0,2106,3266943a12,00.html>

[Charlie Wong]

On Thu, 05 May 2005 19:54:29 +1000, Charlie Wong
<willwasteyou@hotmail.com> wrote:

>There was some talk in here recently about "Alliance Factoring" and
>Telstra.
>
>Some of you may find some joy in the following:

....and from the Baycorp web site:

Debt Recovery Procedures Of Alliance Factoring Pty Ltd
Monday, May 02, 2005

Baycorp Advantage Limited (ASX:BCA) advises that its wholly owned
subsidiary, Alliance Factoring Pty Ltd (Alliance), has received a
notice from the Australian Competition and Consumer Commission (ACCC)
issued under paragraph 155 (1) (a) and (b) of the Trade Practices Act
1974. The notice requires Alliance to furnish certain information and
documents to the ACCC in respect of an inquiry into some of the debt
recovery procedures followed by Alliance in the course of its debt
recovery business since June 2002.

BCA and Alliance are treating the inquiry seriously and are committed
to co-operating fully with the ACCC. The inquiry is at an early stage
and it is not yet possible to quantify the financial effect, if any,
on Alliance.

Alliance is part of the Baycorp Advantage Collection Services (BCS)
division. It purchases debt ledgers in Australia at less than face
value and seeks to recover the debt as principal, for its own account.
For the most recent reporting period ended 31 December 2004 Alliance
generated approximately 18% of BCS revenues. This equates to
approximately 5% of BCA Group revenues.

BCA Managing Director, Andrew Want, said “We are committed to
operating at best practice standards that will ensure consumer
confidence in our business and in the debt collection industry. Should
the inquiry reveal areas for improvement in Alliance’s internal
procedures and systems, these will be implemented.”

For more information, please contact:

Andrew Want
Managing Director
Baycorp Advantage Limited
Phone: +612 9951 7510

Jon James
Chief Financial Officer
Baycorp Advantage Limited
Phone: +612 9951 7510

<http://www.baycorp.com.au/media/media.asp?UserTypeID=1&CountryID=1&ArticleID=183>