That's unbelievevable. Hopefully ANZ will continue to be patient or a lot of people will lose their shares
It's criminal to me! The only question is how long ANZ is prepare to wait. There is no mercy in this business...
There are two issues here: 1) Gearing upon gearing increases risk exponentially down the chain. 2) The offensive practice of assignments of investors loans & assets by the financial intermediaries. What I don't understand is how borrowers assigned "beneficial" interest in their property. This would constitute a disposal for CGT at the time ? Certainly if the rights are less than a trust, then they might not be able to trace their property and might even be reduced to mere creditors if the assets are pooled. Get some legal advice on your contracts. Cheers, Rob PS it doesn't just go for shares, check out http://www.invested.com.au/85/credit-rating-agencies-under-scrutiny-17409/#post34807
Continue... AAP Recently listed broking house Bell Financial Group Ltd has entered into takeover talks to buy its troubled peer Tricom. But the Melbourne-based firm said no agreement had been reached with Tricom and that it would keep the market abreast of any developments. "The discussions are continuing and there is no certainty that these will lead to a transaction," it said..... Business Spectator - Bell Financial in talks with Tricom
