Tuesday, May 29, 2018

Hotel developer says Bankwest harsh tactics during global financial crisis sent him broke

The financial services Royal Commission has been hearing about harsh tactics used by the Commonwealth Bank-owned Bankwest to pull in a hotel developer's business loan at the height of the global financial crisis. 

The action by Bankwest to claw back loans has been described by developer Michael Doherty as a "cash grab" that ultimately sent him broke. 

ABC's Peter Ryan says it's the latest evidence of banks playing hard at the time of the financial crisis.

Here's my report from The World Today

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