Bodo
You beat me to it. Your post is exactly what I have said all along that BEN has under provided for this material amount which is directly linked to profits and bonuses.
If BEN were able to negotiate a 70 cents in the dollar settlement ( remember the $550m is the balance now and some loans have been paid down since 2005) this would wipe out last years profits.
This is material and very serious for the bank now.
The point about great southern finance acting unlawfully I don't think is an issue. More the issue is that they were effectively acting as an agent for the bank- using BEN credit lending coterie etc to do te deals.
Opes and storm westpoint and others all found the banks having to settle.
This will be another one, just takes time in court
BodoYou beat me to it. Your post is exactly what I have said all...
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Last
$11.54 |
Change
-0.100(0.86%) |
Mkt cap ! $6.554B | |||
| Open | High | Low | Value | Volume |
| $11.49 | $11.58 | $11.42 | $18.53M | 1.607M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | $11.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.54 | 17184 | 7 |
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| Last trade - 16.10pm 27/06/2024 (20 minute delay) ? |
| BEN (ASX) Chart |