Clawbacks vary from Bank to Bank, but generally all the lenders are similar, and I wouldn't think this is such a big issue. They normally only trigger if the loan has run less then about 2 years.
Unfortunately, I see little difference in MOC and RFG (and VTG). If MOC have to give back more to franchisees it has to come from somewhere- cost cutting? yeah a bit, but more off the bottom line of MOC.
I suggest shareholders have a good look at the balance sheet of MOC going forward- keep an eye out for "creative accounting" especially accounting for things such as Software etc.
Having previously worked in the finance industry lending to franchises, I saw these issues coming several years ago- it has been a slow burn up to now. The franchise industry in Australia in it's current format is broken.
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