sorry make that 7 billion class action, page-6

This has the potential to be a very long and expensive trial for IMF, against very well-funded defendants. It is far from certain that IMF will be successful. I think this is why they are doing it through a subsidiary, Financial Redress Pty Ltd. It would be interesting to see the corporate structure and arrangements between IMF and Financial Redress... I suspect IMF is trying to quarantine any potential losses.

Certainly from the banks' perspective, with this size claim on the table compared to the cash IMF has, it would be worth trying to bankrupt IMF through a long and drawn out legal process.