Live exporter Wellard says CBA's decision to knock back its finance in 2018 was a hypocritical move
Wellard owns and operates three livestock vessels and has been shipping or exporting livestock around the world for 40 years. Wellard executive chairman John Klepec said in 2018 that the CBA told the company that within 12 months it would no longer be extended credit and was required to close its everyday banking facilities, including trading accounts and credits cards.Mr Klepec said the ultimatum flew in the face of the bank's "public position".
Wellard is adamant CBA's decision to cut off services was based on the type of industry it represents. David Stoate is worried about the banks' refusal to service livestock exporters is the start of a slippery slope. "If you keep going with this sort of activism it's never going to stop and they won't be financing any farmers."'Pick and choose'
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Time to give out funds for development of meat processing in Australia for export. Stop the live trade and create jobs for rural people.
Lol… this particular company was a basket case. There is a good reason a bank wouldn’t touch it. But sure blame other issues
Can't move them then they will be shot .
Good! That barbaric industry should be outlawed. It is sick and cruel. Live export is criminal
Disgusting trade that needs to stop
Thank you for not giving him finances for his live export biz…. Thank you🙏🏼🙏🏼 live export should be illegal.
All live exports should be banned - it's a barbaric and shameful trade. 😠