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23/09/17
10:21
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Originally posted by DW71
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Banks maneuvered their way from unsecured to secured, happy to tread all over the small businesses who now get only 15%. You can be certain they will still have motherhood statements in their annual reports detailing how they are looking after the little guys. Take shareholders out of this and you still have big businesses and corporates playing "games" where only the small businesses lose. This got personal when the ARI Board tried to screw the lenders who had stuck with them for 15 years, the banks weren't going to forget that and were happy to get 70% back as long as the business was never returned to its original owners.
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How much penalty interest would the banks have reaped since administration ? Based on the Bankwest Commonwealth Bank behavior a few years back probably hundreds of millions.