What needs to be hidden?

Administrator accepts $50M loan from unnamed institution

Forum –

I read that Central Coast Council has borrowed $50M and the terms of the loan are confidential.

Interesting.

Council’s poor management leads to massive debt that WE will pay back yet WE are not entitled to know the loan details, not even the rate!

Has it been borrowed off-shore at a crippling rate or is there something intrinsically shonky to be hidden from the stakeholders?

Email, Nov 12
Trevor Young, East Gosford

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