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Bankwest ignore HUMAN CONSEQUENCES: Submission to Senate Inquiry.

Posted by on in Political Blindness
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SUBMISSION TO SENATE INQUIRY

Sub. 29.    May 2012

Dear Senators,

Please find attached my submission that relates to how my business was treated by Bankwest.

My business was a family business in the small country town of Forbes in NSW. It was created by my grandfather in 1913, which would of made it 100 years old next year.

We were a Painting Contracting company. In 1999 we won a contract to maintain a lot of public schools in western NSW. This was the break we had worked hard for. Within 5 years we went from 5 workers to about 70 workers. This enabled us to tender for other contracts in other areas and in the 5 year period we worked across NSW for such companies as NRMA,TARGET and TRANSFIELD and as well as painting we also started to do building maintenance and insurance works. Life was good.

 

We were with the Commonwealth bank with our manager based in Orange, NSW.

 

 

The manager, as far as we can tell, was headhunted by Bankwest, and was employed by them. He approached us to move over to Bankwest and, sadly, we did.

 Our business, the last year we traded, turned over close to $12,000,000.00 so these loans were easy to service. In about 2005 my wife and I separated. This was a very hard time for me. About 6 months later my wife decided to resign as a director of the business, and even though she still worked in the business, she thought it was the right thing to do as it was a family business for a long time and we were getting divorced.

The manager from Orange turned up, and in front of about 6 people, including family and a few employees, said the bank was nervous that my wife had resigned as a director and felt “exposed”. He said the bank wanted us to go into VA for “a couple of months” so they could sort stuff out. My wife offered to go back as a director to make them feel better but he declined saying this was a better way.

Once I signed the VA, the next day 2 men from RSM birdcameron in Sydney,turned up and told us to close the doors straight away as Bankwest had put us into receivership. We were the biggest employer in Forbes...

I rang the manager from Bankwest in Orange about what was going on and he wiped his hands of me. He told me to ring a manager in Sydney. (Mr H).

When he finally returned my call he told me he was going to teach me a lesson for not using Taylor Woodings (who had previously told me they had Mr. H “under control”).

After 11 months of fighting I had had enough. On the day my mother was buried, I received a call from Bankwest in Perth telling me they were coming in to take my home the next day and everything else I owned. I received this call at the wake!..

They also had ownership of my company and when I last saw the books there was $1,000,000.00 owing to the company for works done so I suppose they got that too. So for a $750,000.00 loan, they got all their money plus what was owed to the company($1,000,000.00) plus a heap of plant and equipment.

The impact Bankwest has had has been enormous.

To start, 60 people out of work in a small country town, in the middle of the very bad drought.

Many had to leave town to get work and have never returned.

I and some of my family and ex-employees have depression.

A hundred year old company ruined. I don’t think anyone will ever know how much pain they have caused.  I have lost everything, house, business and worst of all my family.

The bank could of easily given me a payout figure 3 days after they put receivers in, but I suspect they always had other things in mind with all my assets.

 

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  • doyla66
    doyla66 Saturday, 29 September 2012

    Wayne, I hope many BFCSA Members read this story. Unfortunately for you, your family and employee colleagues, a typical unconscionable bank maneuver was employed to profit and spread their ill gotten gains among the greedy with no conscience.

  • doyla66
    doyla66 Saturday, 29 September 2012

    Hi Wayne
    I went through the same scenerio I had a thriving business great home and family and then RAMS sold my loan to RHG and the world changed for me they hiked up the interest rate beyond what the market was doing, there was the threatening phone calls etc. In the end I lost my home, my company my family all. I feel for you I could go on and on but its all to depressing.

  • doyla66
    doyla66 Saturday, 29 September 2012

    The other sad thing is when the banksters have to face court for their fraudlulent actions - they pretend to get divorced, move assets to wife, kids and family members etc so they can still hold onto to the profits of their criminal behaviour.

  • doyla66
    doyla66 Saturday, 29 September 2012

    NSW(AUS), the barristers clan - worked out how to technically "feign" divorce, ['Clayton's Separation] to protect themselves form ATO tax arrears et al [1 barrister - 10years had failed to file Tax returns], but never 'filed for divorce" and avoided paying up to ATO whilst family assets kept in tack{premeditated over many years of course - don't you love their work!

  • doyla66
    doyla66 Saturday, 29 September 2012

    Hi Wayne, their straight up gangsters - did those criminal Bankwest/CanConBankster bastards advise you to obtain "independent legal advice" prior to this absurd contrived proposal to sign [of your own volition] notice to enter "VA"? which those low life creeps, of course, always intended it's use - as the premeditated trigger to cause a technical "breach" of the loan conditions, which they sought to then insert ["expedite"]their criminal 'undertakers"{aka "bankster-receivers"].

    This is beyond "unjust enrichment" and/or unconscionable conduct", this without a doubt must constitute - "organised corporate crime".

    My mum grew up not far from Forbes, outside Dubbo founded 1850's [with bullock teams]

    I hope Senator Williams - puts up your submission as case in point - "No.1"

    It makes me sick to the stomach to hear of such skullduggery or more aptly put in the Irish tradition - "bloody shenanigans".

    Their dogs breakfast is coming soon - and quicker than they care to contemplate, I've noticed in last few weeks a trend of bank CEO's /Execs' doing preparations to "move on" - with their 'ill-gotten' gains, (MacQuarie,BoQ, etc).

    They smell the writing "on the wall" - BFCSA's 'wall'.

    Coming: Royal Commission [ASAP] with wide "Terms of Reference"

    Bankwest, Gadens, CanCon4CommBank[cohorts],
    . . ASIC, RBA, APRA, COSL, FOS, AOFM, . . . . .etc, etc

  • doyla66
    doyla66 Tuesday, 02 October 2012

    This sounds like typical Bankwest behaviour - less than 24hrs notice for receivers & tip your world upside down! That BastardWest bank did it to me as well. Grind you down in every way known possible with Gadens holding their hands - Grrrrrr

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