"Looks like we won't know till March/April next year all because...

  1. 6,757 Posts.
    "Looks like we won't know till March/April next year all because ASX hasn't got back to Deloite in regards to exit prices a bloody disgrace."

    Same thing with Deutsche Bank. Amazing isn't it? They managed to close all the positions in a couple of days, then it took them a month to deliver the close prices and the cash. Now they apparently have 80-90% of the cash so you would think the Administrators could quickly dispense 50% or so, and still have plenty of contingency to handle any disputes etc?

    Unfortunately all parties aside from the creditors have an incentive to draw things out as long as possible, the more complicated and litigious it becomes the better for them. Administrators fees, legal fees, interest, employees wages, all dry up once they return the cash. Creditors are the only ones with an interest in getting it done quickly but the only ones with no ability to influence the process. What is needed is an incentive structure that rewards administrators for delivering the best possible outcome for customers in the quickest possible time - not the opposite.

 
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