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Guinness Peat Group has hired a London-based brokerage firm to promote Coats as a stand-alone business and is searching for a chairman for what will be its remaining asset. GPG is exiting its investments, apart from Coats.
ABC liquidator boost
Liquidators of ABC Learning can proceed with legal action to recover $244 million from a bank syndicate after Justice Peter Jacobson of the Federal Court in NSW found there was no conflict of interest in IMF Australia funding both the liquidators' action and a potential class action.
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