Typical move by a bank to salvage the lions share of what value that is left on the 'carcass' by appointing receivers who will work in the best interests of the bank.
As per usual it will be Mr Average (shareholder)who gets screwed - you might have noticed the Big End of town got off the share register quick smart.... after getting the wink and the nod down at the club whilst sipping their ports.
It's called 'transfer of wealth'.
FGE Price at posting:
91.5¢ Sentiment: None Disclosure: Not Held
