Took a few phone calls to get the relevant infos from NAB and what it would mean in today's financial world:
In Laymans terms
1. There is a current restructuring process inside NAB that involves JBWere as well - would mean just an "Inhouse" transfer, like a shift from one account to another
2. JBWere is clearing assets that have underperformed and are transferred to NAB to either be sold on to another NAB investment arm / other financial investment business or put into a "Bad Bank" to either be written off or kept selling on if there is a market for it some time later
( The movie MARGIN CALL explains that part very well )
3. If SPX has other dealings with NAB as well such as business accounts, draw down facilities, loans....it could mean either a restructuring and simplifying of all business dealings with SPX or, getting ready for "bankruptcy / insolvency / voluntary administration"
You guys have to pick a number from 1-3
SPX Price at posting:
0.9¢ Sentiment: None Disclosure: Not Held
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