1. The sad case of Carolyn Flanagan

Carolyn Flanagan was like any mum – all she wanted to do was to help her daughter with a loan to buy a business.

“I’d have signed anything for her, love,” she told counsel assisting the banking royal commission, Michael Hodge, QC. “If you can’t help your children, who can you help?”

That wasn’t exactly what Michael Hodge QC wanted to hear from the elderly lady who went guarantor for $165,000 for her daughter in 2010 to invest in a business that went bust. Westpac demanded her Sydney house with vacant possession, so they could get their money back. That was in 2014. Continue reading Saturday salon 26/5 →