wbc shares halted ahead of nz court decision, page-23

Well the 'small guys' (kiwi taxpayer) won. WBC's argument that 'because the trail was long and complicated' somehow 'justifies considering appealing the verdict'.... is absurd. The trail was long and ardious coz the deal was cloaked in smoke and mirrors and WBC hve shown no other reason for constructing it in this fashion... other than to avoid/minmise tax. the current CEO had nothing to do with this crafty dodge. She should cop it sweet and realise constant appeals make WBC look like a greedy giant who wants his cake and eat it(kiwi taxpayer). Imagine if you or i took on WBC in a court case?? How even would that trial be with lawyers charging $300/hour?? WBC should accept and move-on.

From news ltd.
WESTPAC has lost a New Zealand High Court judgement which will cost Australia's second biggest lender $NZ918 million ($760.22 million).
The total cost takes into account nine transactions that were disputed by the Commissioner of Inland Revenue (CIR) and the bank, made up of core tax of $NZ586 million ($485.28 million) and interest of $NZ332 million ($274.94 million) as of September 30, the bank said.

Westpac had challenged the CIR's amended assessments in respect to Westpac's treatment of structured financial transactions between 1998 and 2002.