Debt collection business Repcol (WA) Pty Ltd has secured its first major contract, under the state government's common use arrangement for debt collection services, with the Department of Housing and Works.
Subiaco-based debt collection agency Repcol Ltd has appointed company secretary George Wilson as its managing director ahead of Monday's general meeting, in which the company plans to sell its major assets.
Peter Di Prinzio, the founder of Subiaco-based debt collection agency Repcol Ltd, has resigned from the board ahead of a shareholder vote to sell the main assets of the troubled company to US-based Cargill Inc for under $5 million.
Subiaco-based debt collection agency Repcol Ltd has confirmed it will continue discussions on restructuring proposals with Cargill Financial Services, which will fund the operating costs of Repcol's Indian operations until August 31.
Subiaco-based debt collection agency Repcol Ltd has suspended trade in its shares ahead of an audit, which the company believes will result in a loss significantly higher than the $7 million to $9 million predicted in November last year.
Subiaco-based debt collectors Repcol Limited announced a net profit after tax of $9.7 million for year ended 30 June 2006, a period which inccluded the acquisition of its debt purchasing associate Javelin SPV1 Pty Ltd.