Look at it from the position of a BEN shareholder. These debtors knowingly borrowed money from the bank to take a high risk punt(& a fat tax break), the punt proves to have been a mistake so now the debtors expect the bank to forgive the loan? As BEN has pointed out, those who piled into the MIS schemes to avoid top rate tax weren't exactly ignorant or paupers, so the recovery chances will be good and the courts aren't going to have any sympathy unless the debtors can find something they've missed in the loan application. To forgive a debt just because the funds were inadvertently invested in a lemon by the debtor would set an appalling precedent for any bank. By the way, I don't see any evidence that the alleged 38c loan sale had anything to do with BEN (I think someone got the wrong company), but even so, why would it be relevant -if the loan book had been sold at a premium would debtors have been happy for their repayments to rise?
GTP Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
