BNK loses cash in transit

An ATM supplier and the armoured car company it relied on have somehow mislaid A$2 million in cash supplied - and owned - by BNK Banking Corp.

In a comical announcement on the day of its AGM in Perth, BNK disclosed that the liquidators to ATM Co Pty Ltd and Tuff Enterprises Pty Ltd trading as Aus Guards "have informed BNK that ATM Co does not have the money in its account.

"It may remain in circulation," was an optimistic coda.

"BNK has notified Tuff's liquidators of the fact that BNK has a right to that money," the bank said.

"Reports by Tuff's liquidators indicate that Tuff does not have this cash in its possession.

"Again, it may remain in circulation."

BNK said it "appointed a national law firm to assist it with the recovery of its cash, and resolving all issues between BNK, the liquidators of ATM Co and Tuff and the other third parties that have arisen from or come to light as a result of the liquidation of ATM Co and Tuff".

BNK is also preparing "to claim an indemnity under one or more policies of insurance maintained by the group."