David Johnston WA, Liberal Party, Shadow Minister for Defence
ask the Minister representing the Minister for Financial Services and Superannuation, upon notice, on 28 September 2010
If a bank receives a series of offers for a secured liability: (a) how are these evaluated; and (b) is the decision on which offer to take documented.
Nick Sherry Tasmania, Australian Labor Party, Minister Assisting the Minister for Tourism
The Minister for Financial Services and Superannuation has provided the following answer to the honourable senator's question:
The processes by which banks consider and evaluate offers of settlement are dependent on the circumstances. The consideration of offers of settlement is a matter for the Bank. There is no process prescribed by law as to how to consider an offer.