Macquarie Bank's response to Today Tonight's program of 16 August 2006

16 August 2006

Today Tonight featured a new story last night of another borrower with complaints against Macquarie Bank. This loan was to a company for an investment property. The two directors of the company were featured on Today Tonight. The core complaint was that the Bank had sold their property without speaking to or writing to the borrowers.

This complaint is without foundation. The Bank and/or its solicitors had direct conversations and written communication with at least one of the directors of the borrowing company concerning both the arrears and legal proceedings.

Channel 7 was informed by the Bank's solicitors in advance of the screening of Today Tonight that these claims were false and misleading. Despite this Channel 7 chose to run the story. The bank will be making a formal complaint to the Australian Communications and Media Authority and is investigating its legal options as a result of the recent actions of Channel 7.

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