Asset stand-off as decisions stay in limbo
The comments from AML Alliance chair Dr Arn Sprogis came as AGPN chair Dr Emil Djakic said an alternative plan for the network’s assets was unlikely to be agreed on soon.
AGPN had wanted to wind up and transfer its $360,000 cash reserves to AML Alliance but fell short of the 75% member vote needed to approve it, with 58% support. Any alternative plan would also need 75% support.
Of the divisions and state-based organisations that voted no, some have refused to endorse transferring any cash to AML Alliance while others have said they would support a