Original article by Dennis Shanahan, Leo Shanahan
The Australian – Page: 21 : 15-Oct-14

The Supreme Court of Victoria will in late October 2014 rule on whether a settlement can be ratified that will mean Bendigo & Adelaide Bank can bring bankruptcy proceedings against investment loan borrowers. The about 47,000 customers had bought into the rural managed investment schemes of Great Southern between 2005 and 2008, and owe some $A398m. They will also claw back less than $A16 for every $A10,000 they lost in the collapse. Law firm MacPherson & Kelley, representing the investors, will gain close to $A20m

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BENDIGO AND ADELAIDE BANK LIMITED – ASX BEN, GREAT SOUTHERN LIMITED, MACPHERSON AND KELLEY LAWYERS PTY LTD, SUPREME COURT OF VICTORIA, TIMBERCORP LIMITED, COMMONWEALTH BANK OF AUSTRALIA – ASX CBA, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION