Victims seek olive branch from ANZ over Timbercorp collapse

By Adele Ferguson and Ruth Williams
Updated November 10 2014 - 1:18am, first published 12:36am
Cracks in the Timbercorp juggernaut started to appear even before the Australian Tax Office cracked down on agribusiness schemes. Photo: Andrew Quilty
Cracks in the Timbercorp juggernaut started to appear even before the Australian Tax Office cracked down on agribusiness schemes. Photo: Andrew Quilty

"Hmmn! At least this hasn't shaken my view as to the extent to which banks can f*ck you over and why bank debt should always be the least preferred option." So wrote Timbercorp boss Sol Rabinowicz, in an email to his chief financial officer John Murray in October 2008.

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