Record Realty Trust has become the latest Allco Finance-related business to collapse after its secured foreign lender called in a $186m loan, triggering a potential firesale of properties worth up to $1.8bn.

Craig Shepard and Mark Korda of KordaMentha have been appointed receivers and managers of Record Funds Management, the Allco Finance-owned subsidiary that manages Record Realty Trust, which is labouring under debts of $1.76bn.

The receivership was triggered by a notice of default served by the trust's major secured lender, BOS International, demanding immediate payment of $186m, which was agreed on in June2006.

The Australian