no-one comes out of this one smelling like roses. You can include the underwriters and the Queensland government. Everyone acts in their greedy self-interest (that's how markets work) though some parties (e.g. MQG) are supposed to act with professionalism and competence, and others (e.g. the BCS directors) have legal obligations to act on behalf of the unit holders. Looks pretty doubtful that these obligations have been fulfilled. Bolton has none of these obligations - he's free to act for his own personal gain so long as its within the law. A highly risky ploy though - more likely he will end up bankrupted anyway I would guess, though that won't help the project much.
BCS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held