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An almost five-year-old dispute between Westpac Banking Corporation (ASX:WBC) and acquisition company Corum Group (ASX:COO) has been settled.
Corum says it will pay Westpac $1.2 million as a final settlement of its obligations under a loan facility agreement on January 24, 2007.
In turn, Westpac is expected to discharge the fixed and floating charge it holds over Corum’s assets.
In April 2010, Corum paid Westpac $375,000 in full satisfaction of the senior debt facility.
In a statement, Corum said the funds required to settle these amounts have been generated from its operations.
Westpac reported a net profit of $7.1 billion in the 2011 financial year.
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Last
13.5¢ |
Change
0.010(8.00%) |
Mkt cap ! $80.79M | |||
| Open | High | Low | Value | Volume |
| 13.5¢ | 13.5¢ | 13.0¢ | $176.1K | 1.305M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 70000 | 13.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 13.5¢ | 501486 | 2 |
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| Last trade - 15.42pm 15/09/2025 (20 minute delay) ? |
| PHX (ASX) Chart |