AUSTRALIA: Real estate giant McGrath faces review over loan

 

PHOTO: Mr John McGrath has denied having any gambling debt. Photo: Daniel Munoz.

The ASX is reviewing claims made by real estate giant McGrath disputing speculation its Rich Lister founder John McGrath has a $100 million margin-lending facility attached to his shares in the publicly listed company

Details of the loan emerged on Friday after the company told the stockmarket on Thursday night that the multimillionaire had never used his shares as collateral for a loan.

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