7669 replies to this topic

[Adam]

I don't get the tie?


I've got a Raco pan. One day I'll up the ante.

[skillionaire]

Hahahahahahaaha I love that Tie Nik!!!

 

 

STAY CLASSY

I don't get the tie?

 

Fuckin' hell do you even live in Australia?!

[Adam]

Nice use of gradients!

I think I do!? But I switch my ears off almost as soon as I hear political shit.

How about gillard pulling the women card yesterday! What a desperate bitch!

[Shaz]

Going to order one of these.

 

[skillionaire]

How about gillard pulling the women card yesterday! What a desperate bitch!

 

MY LORD MAN, HOW DO YOU KNOW THIS AND STILL NOT GET THE TIE?!

[B4TT]

Hahahahahaa I am hoping that Adam is alluding to the fact that he now understands the tie... if he knows that and doesn't understand the tie.... well fuck haha.
Apparently Rudd was wearing a blue tie the day after too haha.

[Zac]

Going to order one of these.

 

Shouldn't it have forks?

[Liberty]

Started in a section at work yesterday and todays my first real day out doing stuff. Im already over changing rollers on the conveyors.


I guess most of you guys sit in an office all day doing stuff on a computer? I'd love to do that one day for a bit.

I don't. I'm always outdoors. I'm in civil construction and maintenance with the council.

PICK A SIDE YOU INDECISIVE BUGGER!@

Doesn't change who I go for of course...

[skillionaire]

PERDANG

Doesn't change who I go for of course...

 

Like Lakers fan that turn a blind eye to rapists. 

Haha. Not really. Maybe it was just the coaches really thick Australian accent that made it sound 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[Samwise]

R33 GT-R wheels on an 86?

 

[skillionaire]

That's what's up.

[Adam]

Genuinely don't understand the tie...

[Samwise]

KEEN!

 

[Shaz]

Z20 soarer in the background is awesome. I will buy another one one day.

[Shaz]

CBF doing this training. Can someone give me the answer?

 

 

"Late in 20X3 the main entity was unable to repay a facility for a significant amount, triggering covenant breaches due to the shortfall in MIS investment product raisings. Attempts to refinance this debt by the company were unsuccessful resulting in the group being categorised in early 20X4. Ongoing investor appetite for tax effective MIS products evaporated given yields &/or unit prices were tracking significantly below the original forecasts and the ATO uncertainties around tax deductibility. In addition to this the major financiers withdrew from marketplace as the primary lenders to MIS investors. NAB financing for the purpose of equity injection was no longer palatable due to the reputational & conflict of interest issues that would arise between NAB and those of the growers/investors and the company shareholders. At this point the bank identified a potential cash flow shortfall and a security deficiency, both of significant proportions. The company appointed Voluntary Administrators (VA) and not long after that NAB raised a hefty B&DD provision.

 

The growers/investors formed an action group. By doing this they were able to avoid a conflict of interest between themselves and NAB. This meant that NAB didn’t have to make available additional funding and secondly didn’t need to assume the operating risk. Both would have effectively strengthened the growers/investors position. In addition to this the bank was unable to take possession of the properties due to VA protection. This in itself creates risks as the properties were no longer under the bank’s control.

 

The security realisation process was extremely complicated and expensive given the multiple stakeholders with claims to securities notwithstanding NAB’s 1st ranking charges. The growers/investors were given the opportunity to obtain funding to pay out the bank and retain their schemes without jeopardising the banks realisation process, which could then continue in parallel so that sales could occur quickly once the position was known."

 

 

Select the What did we learn? button to continue.

[skillionaire]

@ADAM: http://www.heraldsun...j-1226662394386

[Samwise]

What did we learn?

 

 

Absolutely nothing!

@Nik http://www.heraldsun...b-1226662420543

[Samwise]

[skillionaire]

 

CBF doing this training. Can someone give me the answer?

 

Select the What did we learn? button to continue.

 

 

Will answer later. Subscribed. 

[Shaz]

 

Will answer later. Subscribed. 

 

Turns out I learnt

 

 

"First and foremost is ensuring that our primary exit is robust from the outset. Having security in place looks good on the surface however the bigger challenge is to have a clear understanding of the complexity of that security. In the event that our primary exit fails, how easy will it be to unwind &/or realise the security within a reasonable timeframe? The more complex the security structure the more costly it is likely to be as was the case here. Our legal rights were compromised requiring multiple court proceedings to apply pressure to protect NAB’s position. As responsible lenders we must undertake rigorous due diligence when dealing with complex security structures. We did not have a full appreciation as to the effect of the grower/investor entitlements on the land and as such the impact on the security position. NAB’s 1st registered charge’s no longer looked that strong given the uncertainty as to who had access to what, between the mortgagee and growers/investors. Arguments followed post realisation of the security as to the apportionment of funds creating further delays. It would come as no surprise that this was a long drawn out process for the liquidators, and a difficult and costly file to manage."