Quote Originally Posted by Tony Two Gloves View Post
Hope your right Invessi, I am still a little mystified why this process has taken so long. I also believe that no potential partner would have required them to stop lending, whilst going through the Prospectus amendments it appears the real reason they stopped lending was they had no cash and no hope of raising bank funding.
I don't think "no cash" is the reason, the wholesale funds arrangment with Westpac for home loan lending is still $225m from memory and we have not seen a notice that this has been withdrawn, I understand there have been a number of potential partners which is why the process has taken so long and the Christchurch situation was instrumental in delaying matters, I understand one of these potential partners required the halt in lending, not sure about the current suitor?