Alastair Welsh, General Manager for Commercial Banking at Westpac Banking Corporation, is being questioned over the bank’s loan processes, including the practice of pre-filling and falsely witnessing documents. Recorded on 21 and 22 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.
Michael Kelly, a former Bankwest director of property finance and then borrower, gives evidence on his dealings with BankWest regarding two loans for land development projects during the Global Financial Crisis. Recorded on 28 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.
Brett Perry, general manager of restructuring at Commonwealth Bank of Australia, is being questioned over ‘Project Magellan’, a secret policy to lower the risk of recently acquired BankWest’s loan book during the global financial crisis by reducing its exposure to commercial property. Recorded on 28 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.
Kirsten O’Donoghue, Chief Risk Officer Business Bank at Westpac Banking Corporation, is being questioned over unfair contract terms and discussions on that subject with ASIC and small business groups. Recorded on 31 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.
Shaun Basset, a former National Australia Bank (NAB) banker, is being questioned over NAB forcing a customer to put all the available proceeds of the sale of his home towards his business debts, leaving him without funds to buy a new home in Melbourne. Recorded on 31 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.
Stephen Weller, former owner of the Nambucca Hotel in Macksville NSW, gives evidence on how BankWest (owned by Commonwealth Bank of Australia) forced him to sell his pub, after changing the loan term from 15 to just two years, increasing the interest rates charged and increasing the amount of principal repayments. Recorded on 28 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.
Kate Gibson, the former General Manager of Small Business Banking at Australia and New Zealand Banking Group (ANZ), is being questioned over the decision to loan $220,000 to a couple in 2014 to set up the first Australian outlet of a New Zealand gelato chain, which ultimately failed, largely based on a business plan filled with pages of “clip-art” ice cream pictures and unrealistic financial forecasts. Recorded on 22 and 23 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.
Sinead Taylor, Executive Manager of Business Banking at BankWest (owned by Commonwealth Bank of Australia), amends her witness statement. Recorded on 29 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.
Phillip Godkin, general manager of specialist finance at Westpac, is being questioned about flex commissions paid by lenders to car dealers, allowing a dealer to set the interest rate on a car loan: the higher the interest rate the larger the commission earnt by the dealer. Recorded on 21 March 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.
Suzanne Riches, an Adelaide primary school teacher, gives evidence on how she agreed to purchase two Wendy’s franchises, only for Bank of Queensland to double her monthly interest payments once it was already too late to pull out of the contracts, forcing her to liquidate her company and sell her house. Recorded on 23 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.
Alastair Welsh, General Manager for Commercial Banking at Westpac Banking Corporation, returns to the witness stand to be questioned over Westpac’s dealing with a Pie Face franchisee. Recorded on 23 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.
Carol Separovich, Head of Performance & Reward at Westpac Banking Corporation, is being questioned over Westpac’s incentive structure for small business bankers. Recorded on 23 May 2018 at the Owen Dixon Commonwealth Law Courts Building in Melbourne.
