Ann: Credit Corp Group H1 of 2018 Results Presentation, page-31

Hermin, thanks for that attachment. I was particularly keen to read the CEO's report to ensure that I had not stated things in my post based on memory of snippets of information that I had gleaned elsewhere about five years after 2008.

Anyhow, it seems I did not stray from the truth, and I have belaboured the turn-around more than enough to make the point that another GFC-type event may not spell doom for CCP as a business, because CCP as a specialist collector of debt, performs the task better than its clients do, and I am tempted to say, better than its competitors do.

To indulge in a flight of fancy, the last point in the previous paragraph is why I would not be surprised if CCP absorbs another competitor. CCP can probably do more with PDL-based businesses than the teams that initiated and nursed these business for some years can. Sometimes competing PDL buyers must sell (e.g., TGA recently), and sometimes they want to cash in on the value that they have created, and wish to skip out to enjoy their lives, or do what they are good at, which is starting businesses from scratch.