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Multi-million dollar lifeline thrown to lender

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Australian Broker | 05 May 2014, 08:30 AM Agree 0
A non-bank lender in money trouble has been thrown a lifeline by its own director, who has lent it $29 million to repay its debt
  • disappointed | 05 May 2014, 10:06 AM Agree 0
    It is a great shame that in a time where competition to the majors should be thriving, that the board still allows such an incompetent management team with little residential mortgage experience to run that business into the ground.
  • Broker | 05 May 2014, 03:42 PM Agree 0
    Well , if Tony Wales is already in for 30 Mil, what's another 30 Mil between friends hey!

    What , if any were the other options??
  • disgruntled | 06 May 2014, 10:39 AM Agree 0
    someone is blowing some serious smoke up Tony Wales backside... the management team know if Firstfolio goes under they are all tainted and will not be employed in the industry especially on the insane salaries they all pay themselves...bully tactics again at play at first folio... this is the only way this management team knows how to operate... sinking ship.
  • NotSoOldBroker | 06 May 2014, 01:26 PM Agree 0
    The ship is not sinking, they are going to use the MH 370 search and rescue drone to find the black box of this lost cause
  • Old Broker | 08 May 2014, 10:18 AM Agree 0
    I thought investing in these outfits was a "no brainer" and you "couldnt lose" you see , turnover and settlements is not profit!
  • another re structure | 14 May 2014, 09:40 AM Agree 0
    Wow, another restructure from this business due next week. Unless it is the general managers that leave it will all be pointless
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