Fed: Storm founders call for inquiry

AAP General News (Australia)
02-06-2009
Fed: Storm founders call for inquiry

By Paul Osborne

BRISBANE, Feb 6 AAP - The founders of Storm Financial have called for a federal parliamentary
inquiry into the Commonwealth Bank's role in the advisory company's collapse.

Storm Financial called in administrators in January after the Commonwealth Bank gave
it one day to repay its debts, said to total more than $78 million.

All 115 staff lost their jobs after administrators closed the firm on January 15.

Many of the company's 14,000 clients now face losing their homes and life savings and
are considering legal action.

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