Collection Agency Founder Sells $2.75 million Stake in Firm

by Mike Bevel, CollectionIndustry.com

The story of a Brisbane, Australia man selling a $2.75 million stake in the debt recovery group he founded, takes on the quality of a nature documentary ? the ones where beautiful gazelles are taken down by hungry hyenas, all narrated by Richard Attenborough — when you get to the sentence, ?Documents lodged yesterday show the stake was bought on-market on Monday by potential predator Trans Tasman Collections Holdings.? There?s also: ?Trans Tasman now owns 10.3 per cent of Brisbane-based Collection House since swooping earlier this month.?

Avert your eyes, ducklings, if you don?t want to see the carnage.

John Pearce did sell a $2.75 million stake of his company, Collection House, to competitor Trans Tasman. Trans Tasman now owns a 10.3 percent share of Collection House.

The sale comes days after Stephen Walker, fellow Collection House co-founder, sold his 6.75 million shares at $1 each.

No animals were harmed in the writing of this article.