Southern finance phone number code#
What does BEN’s remediation program cover?īEN remediation program seeks to remediate breaches of the 2013 Code and the ACCC/ASIC Debt Collection Guidelines in relation to some borrowers within the Great Southern loan portfolio. The settlement deed settled all actions and claims by group members about the validity and enforceability of the loans. The Supreme Court of Victoria approved a settlement deed on 11 December 2014 to resolve the group proceedings. In 2010, investors in the managed investment schemes commenced group proceedings in the Supreme Court of Victoria claiming that they were not required to pay the amounts owing under the loans. What are the Great Southern group proceedings? The various managed investment schemes became unprofitable and the Great Southern group companies were liquidated.īEN holds the rights of the lender under the Great Southern loans, either because it was the original lender or because the loans were assigned to it by Great Southern Finance. Investors obtained finance to acquire interests in the schemes from Great Southern Finance or BEN.
The Great Southern group operated various agricultural managed investment schemes that were offered to investors. What is the Great Southern loan portfolio? This fact sheet provides information about AFCA’s role in relation to the remediation program. In connection with the BCCC’s findings, BEN has announced that it has commenced a program to remediate breaches of the 2013 Code and the ACCC/ASIC Debt Collection Guidelines in relation to some borrowers within the Great Southern loan portfolio. The breaches relate to customers within BEN’s Great Southern loan portfolio. In its 2019–20 Annual Report, the Banking Code Compliance Committee (BCCC) publicly named Bendigo and Adelaide Bank (BEN) for serious and systemic breaches of the 2013 Code of Banking Practice (2013 Code).
0 kommentar(er)
