GgoogleAU first seen 11 h ago, last 11 h ago, peak #4

OzCar enters voluntary administration

Original: ozcar

Australian car finance company OzCar has entered voluntary administration, with restructuring firm Alvarez & Marsal appointed to oversee the process. The move means an independent administrator will now take control of the company's affairs while assessing whether it can be saved, restructured or wound up. It marks a major setback for the lender, which specialised in car loans, and raises questions for customers and creditors about the treatment of existing loans and outstanding debts.

Why now: The collapse of a car finance provider immediately concerns borrowers and creditors holding OzCar loans.

OzCarAlvarez & MarsalAustralia

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Evidence

• OzCar enters voluntary administration · Alvarez & Marsal

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