$A7 billion bank losses loom in credit crunch fallout
About A$7 billion in losses loom for Australian banks as fallout from the credit crisis and a slowing economy are set to turn more corporate loans bad.
Bankers are bracing for rising losses, with the directors of companies they have been prepared to keep on life support becoming increasingly jittery about their obligations to receive such support.
Several parties involved in the collapse of ABC Learning and Allco Finance Group have cited last week's Bell Group court decision as making directors even more concerned about their legal liability for a failing company.
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