On July 17 the National Business Review reported:
"Westpac faces the largest potential bill of $903 million in the structured finance transaction tax cases being fought in New Zealand, analysts say.
Yesterday BNZ, a subsidiary of National Australia Bank, lost its case in the Wellington High Court involving $654m in unpaid tax and interest but said it is likely to appeal.
Westpac is currently involved in its trial, which commenced on June 30 in the High Court in Auckland. Westpac said it was not appropriate to comment on the BNZ decision....