receivers to be appointed today, page-2

In the Strayan today: The big five Australian banks are owed more than $1.8 billion -- much of it unsecured -- by Allco and ABC, which was expected to call in administrators last night or today.

The Australian understands that McGrathNicol is likely to be appointed by the banks as receiver to the debt-laden ABC, whose shares have been suspended since August.

Ferrier Hodgson is likely to be appointed the voluntary administrator by ABC, which looks after 100,000 Australian infants and toddlers, while PPB, a third forensic accounting firm, is likely to be appointed as an adviser to the federal Government.