Ann: BEN Great Southern update Court approves deed of settlement, page-11

Correct. However, Bendigo bank took over the loans from a wholesale lending institution (Great Southern Finance) and by doing that converted them into retail loans. I am told that under the National Credit Act of 2009 Bendigo was supposed to get a valuation of underlying asset. This was clearly not done. If it was done, then even the dumbest assessor would have figured out that the collateral was insufficient. If that all is true then the bank has violated the act and more trouble is brewing. Accordingly this whole thing could be far from over and Bendigo could have many more court battles on its hands.