How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask lrizos Your Own Question
Category: European Law
Satisfied Customers: 44689
Type Your European Law Question Here...
lrizos is online now
A new question is answered every 9 seconds

Bank used unfair banking practices which resulted that many

Customer Question

bank used unfair banking practices which resulted that many public shareholders lost their investment in the company the bank has put into receivership
Submitted: 8 months ago.
Category: European Law
Expert:  lrizos replied 8 months ago.

My name is ***** ***** I am a NSW Solicitor. I will do my best to assist you with your question.

Expert:  lrizos replied 8 months ago.

Good Morning

If the bank was put into receivership then there is very little that can be done because it no longer exists.

If you can tie this back to the directors of the bank and that they have personally reached the law then maybe you have an action against them.

This is a matte that you should take to a major firm like Maurice Blackburn you take on class actions and see if they believe there is a case for the directors of the bank to answer and they may be prepped to act and collect the people that were affected and see if they are all prepared to share the burden of the cost.

But going into receivership the bank cannot be sued unless the receiver believes here is money and accepts to defend it.

I hope this makes sense and is of assistance. If there is nothing further

Thank you for using my services.

If I have missed anything, or you have any further questions please let me know

If there is anything else in the future please do not hesitate to ask.

Please do not forget to leave positive feedback.



Customer: replied 8 months ago.
Firstly, it is not Australian law - it is 'Austrian' law as it is an Austrian Bank.Secondly, the Austrian Bank still exist and is a profitable bank.Thirdly, the Austrian Bank used 'unfair banking practices', by petitioning a public company into bankruptcy as instructed by one of their major shareholders, a German Bank.