Judge rules against banks in Bell saga

The Supreme Court of Western Australia has ruled against a syndicate of 20 financiers, including three of the four major banks, in the Bell Group litigation saga, the longest-running civil trial in the nation.


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West Perth
Sounds like the only winners are the lawyers. I am wondering how Justice Owen can justify that the case would be better off in mediation. It sounds like both parties are in a stubborn position and equally to blame, with nothing up their sleeve to take to mediation table. If the Bell group was close to being insolvent the directors should have put the companies in to administration but instead they approached the banks to bail them out. It sound like the banks took a gamble on a high risk investment and don't want to accept that it turned sour. Greed and Ego are a terrible combination.

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