STORM CLIENTS URGED TO MAKE SUBMISSIONS

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The Parliamentary Joint Committee on Corporations and Financial Services which is enquiring into the collapse of Storm Financial will be hearing submissions from former Storm Clients in Queensland in early September.

Queensland Liberal Senator, Ian Macdonald, whose amendment in the Senate, added the Banks to the terms of reference of the Inquiry, is urging former Queensland Storm Clients to make sure they make their submissions to the Inquiry before the end of July.

“While the Storm Investors Consumer Action Group will no doubt be making a submission on behalf of all Storm victims, this should not stop individual borrowers from telling their story.”

“The Inquiry will be in Queensland for two days – one in Brisbane and one in Townsville. As the majority of Storm clients were from Queensland, it is important that Queensland investors make their voice heard, particularly with regard to the actions of the banks.”

“I would strongly encourage affected investors to contact the Committee before 31 July and either make a written submission, or register to appear personally either in Townsville on 2 September or Brisbane on 3 September. If there are enough submissions from Far North Queensland, then the Committee may also meet in Cairns,” Senator Macdonald said.

“The submission requires no particular form. A letter telling your story is all that it needs.”

“We have seen this week that the Commonwealth Bank have agreed to go to mediation with its clients who were Storm Investors. The pressure needs to be kept up on the other banks to do the same, and the best way of doing this is via making either a written or verbal submission to the inquiry,” Senator Macdonald said.

ENDS

To make a written submission or arrange to appear in person,

http://www.aph.gov.au/senate/committee/corporations_ctte/fps/index.htm

or contact:

The Committee Secretary
Parliamentary Joint Committee on Corporations and Financial Services
Parliament House
Canberra ACT 2600
Tel. 02 6277 3583   Email: corporations.joint@aph.gov.au

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