i wonder if it will be an open auction or one where...

i wonder if it will be an open auction or one where murdoch/gordon group are the only ones that can bid thus ensuring shareholders get burned. I would love to see another consortium make a bid sufficient to repay debt and hand back shareholders value at least at the closing price. That way the TEN vultures can be cut out of the deal or have to make a reasonable offer to take over.

i would have thought asic would take a more active interest in shareholders holding management to ransom to force a VA.

It is impossible to walk if you have had your legs cut from underneath you so I do feel directors were stuck due to these evil geniuses and the scheme they had concocted to take full ownership without paying for the extra stock. I guess in the short term they are supplying the $30 million they earnt without needing to chip in a cent. I wish I could earn $30 million in 3 years on the back of a signature and then pull the pin 6 months early on the company that is paying the fee as they felt it may actually be utilised. Surely some conflict of interest here and the dealings are self servicing and not looking after shareholder interest.