R10 Litigation is one of the largest class actions ever in Australia. It goes to the root cause of the Bank West and CBA abandonment of hundreds of mortgage clients and their financial devastation over the last 4 years. We seek reinstatement of member’s financial affairs positions prior to the bank calling in all these loans.
If you are scratching your head wondering why it is called “RG10” well it is simple, RG stands for Risk Grade. The 10 is the worst risk grade that the Bank had. We now have evidence that the bank re graded the commercial loans to an RG10 status, therefor allowing the CBA to receive an economic benefit.
What’s better is that we can now bring in CBA borrowers that were affected in this period as well as we have identified a bridge to connect the CBA loan book. This then destroys the CBA common statement that the bank west Loan book was of poor quality. Please be ready for our BIG announcement in the coming weeks. It will be in the Media.
If you had a facility with Bankwest or the CBA and the Bank called your loan in the period of 2008/2009/2010/2011/2012 & 2013 you maybe surprised and qualify for our Class Action.