Senate debates Questions on Notice

Banking (Question No. 61)


David Johnston

David Johnston WA, Liberal Party, Shadow Minister for Defence

asked the Minister representing the Minister for Financial Services and Superannuation, upon notice, on 28 September 2010:

If employee entitlements were to be given a higher priority in respect of any fixed and floating charge security a bank holds, would this not make a bank more proactive in monitoring loans it has and in ensuring a situation is not allowed to deteriorate to a position where only a secured creditor recovers their funds.

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