Briefs: Repossessions rise in WA, Sony Bank hiring, Firstfolio sets targets and three more 11 July 2012 4:23PM Briefs, Repossessions by lenders are on the rise again in Western Australia. The Supreme Court of WA said there were 1500 repossession applications lodged in the year to June 2012. The West Australian reported that this was a rise of 11 per cent on the prior peak year of 2008/09. The Financial Review reported that former Westpac executive Rob Coombe was "a leading contender" to manage the presumed banking start up Sony Bank in Australia. The Japan-based bank is seeking a full banking authority in Australia. Mortgage services company Firstfolio will pay David Hancock, its new chief executive, a base salary of A$400,000 (plus superannuation). Hancock will be eligible for a short-term incentive bonus equal to 100 per cent of his base salary if he meets key performance indicators set annually in advance, plus a further amount of base salary where performance "substantially exceeds" KPIs. Macquarie Group has dropped out of the bidding for a stake in Jackson Square Aviation, the Financial Review reports. Oaktree Capital is the vendor. Standard & Poor's has raised the long-term counterparty credit rating on the Papua New Guinea-based Bank of South Pacific to B+, from B. S&P affirmed the short-term rating at B. The bank's investment in core system and retail banking products is helping to entrench the bank's already dominant position in PNG. But S&P noted that "BSP still has a significant exposure to sovereign risk in PNG." Clydesdale Bank is cutting more jobs in Scotland, BBC reported. Clydesdale, a subsidiary of NAB, said in April that 60 jobs would be cut from operations centres in Scotland as part of a wider cutback in staffing levels in the UK of 1400. Banking union Unite told the BBC new plans suggested 145 jobs would be cut in Scotland.