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Pretty high probablity of the bank demanding security such as PPR for the FIL loan As for the ATO.......... actually, you have to wonder whether the bank were aware of the ATO debt when they made the FIL payout loan.

Nice story....for you Dazzling.....would appreciate hearing what happens to the tenant. Seems like he will have to declare bankruptcy if they can only raise 40c on the dollar and he has that debt to the ATO and bank for the FIL payout....suppose the ato and bank get 100c per $1. :) Seems that's...

Seems the business will provide some nice cash flow to service some more property debt. Hope you can get in, after a bit more dd. What I don't understand is how he wracked up such a large tax bill in the early days when his overheads should have been higher. Sounds like his accountant didn't...

Hmmmmm....rotten bass ackwards law. So you have to take a bath on rent while the liquidator plays. makes you wonder where the justice is in that for the landlord.