Westpac loses structured finance tax case

The High Court in New Zealand yesterday ruled in favour of the Internal Revenue Department and against Westpac in a long-running wrangle over the tax treatment of structured finance transactions enter.. read more

Rock labels QTI opportunists

The board of The Rock Building Society, in the notice for the annual meeting next month, has laid out its case for shareholders to brush aside the effort by Queensland Trustees and Investments to elec.. read more

RBS China still on the market

The banking businesses of British bank RBS in China, and also in Malaysia and India, remain on the market after talks to sell them to Standard Chartered ended, reportedly over price. read more

Ford Credit finds a way out

Ford Credit has made a second, and this time commercial, arrangement to refinance its lending portfolio and thus progress toward the wind down of its business in Australia. read more

Break fees a pain

Disputes over credit and referred to the Financial Ombudsman Service increased by 36 per cent to 6700 in the year to June 2009 the annual report for the scheme shows. read more

NAB may have to sell aggregator

There is speculation that National Australia Bank will have to sell one of three mortgage aggregation business being acquired from Challenger Financial Services Group in order for the purchase to proc.. read more