OP will presumably have funds from the overturning of preferences etc.
This would seem to suggest ANZ are going to take on Beconwood all the way, but are not too certain of their case, so using the counterclaim against OP as insurance.
Only affects those who are relying on mediation outcome, not those adopting the litigation route to get a result, which has always been my preference...quicker than waiting for FH to fight a counter claim from ANZ for years and wasting OP funds on legal fees trying to fend off ANZ. The pot will shrink and shrink and FH unable to pay a cent out until any counterclaims finalised.
Seems that ANZ wants to fight all the way...so be it. Would suggest the mediation outcome may not be palatable guys. Let's see, another week. But gut feel is ANZ are baulking at a commercial settlement, unless forced by a litigation court, on a case by case basis.
Beconwood is the key to where all this is headed.
Note a mate of mine had a commercial litigation with a big bank...went for 12 years! He won. So be it if that what ANZ wants.
ANZ Price at posting:
$19.15 Sentiment: Hold Disclosure: Held
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