Exactly...much quicker to deal with ANZ directly on the steps of the court...rather than FH over 5 years
The problem with remotes suggestion of ANZ buying out the clients debt is the 'netting off' as per a liquidation process...many clients had larger loans against their portfolios and may not be happy with this 'netting off'
example: client has $1m portfolio with no loan on it vs client with $1.5m portfolio with $0.5m loan. Under netting off, the former gets $1m, the latter gets $0.5m even though each has a net realisable portfolio value (after debt) of $1m.
this is the other advantage for some clients of going down a liquidation route until all avenues of DOCA have been totally exhausted.
abn, page-38
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Last
$32.08 |
Change
0.450(1.42%) |
Mkt cap ! $94.73B | |||
| Open | High | Low | Value | Volume |
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