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Refund administrator 'in no rush' for sale

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Australian Broker | 12 Mar 2012, 04:30 AM Agree 0
Refund Home Loans administrator SV Partners is under increasing pressure to finalise a promised sale of the business, as claims mount that it is "dragging its heels" and is facing more franchisee departures
  • melo | 09 Mar 2012, 03:15 PM Agree 0
    Liquidators and Wayne Ormond should REFUND all income earned to franchisees ASAP .Whole model saw Ormond getting all profits, Brokers doing all work and paying for pleasure
  • Ex Refund | 09 Mar 2012, 03:20 PM Agree 0
    The reality is that its not in SV's best interest to wind this up quickly because they are getting paid very well to keep working on it which is ultimately using the money that the Refund franchisees are rightfully owed and not receiving. the whole process has been a joke and at the end of the day SV are richer, Wayne walks away with his millions to start another scam and the suckers that bought in will have nothing to show for it.
  • Positive Broker | 09 Mar 2012, 03:34 PM Agree 0
    Terrible news. Lets hope these innocent brokers caught up in all this get what's owed but it doesn't look good.
  • Long term broker | 09 Mar 2012, 04:17 PM Agree 0
    Brokers who worked in Refund as a whole including its GM have only themselves to blame for working with a business model which was doomed to fail from the beginning.

    What kind of people can give his money away just like that, just to write a loan?

    Now they are all crying fowl.

    You refund brokers gave your money away.
  • another refund broker | 11 Mar 2012, 05:05 PM Agree 0
    SV Partners have been given another offer from other bidders which is better than State Home Loans offer. The aggregator will stay the same and the offer is not subject to finance and in the franchisees interests. The offer is being looked over through solicitors now.
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