class action, page-20

I'm waiting eagerly to hear more from ASIC about what they find with regards to the cooking of the book.

In a 20/20 hindsight I'd say I'll never again look at a private equity injecting capital as being some sort of anchor or cornerstone. In 20/20 hindsight I'm not sure what their plan was when they decided to invest in HST i.e. how they planned to make $$$ from their investment. I thought they wanted to turn it around. But I'm not sure about that anymore. Did they make a mistake? I'm not sure. Sure they were not allowed to sell their stake for 12 months as part of the escrow, but is there anything in place to prevent them from shorting it as a hedge (after the 1st recap the sp briefly touched 18c)? Were they involved in shorting it before the 1st trading halt more than a year ago?

The recent write downs after the 1st recap was done while Lazard had one board seat. I still have questions about whether the magnitude of the recent write downs are within some guidelines/rules/regulations if any such guidelines/rules/regulations exist. The board and management were fully aware that those write downs would cause covenant breach. I haven't got a clue how to go about finding the answer.

My other question is why should one of the international company be scared away by the 'finding' of the $20m 'accounting irregularities'? Are there any other reason(s) that scared them off?

While the likes of Lazards and Thorneys might or might not initiate a class action one of the mentioned litigation specialists in this area might initiate one. We'll just have to wait a while, while they assess the case. Unfortunately I might not be eligible to join the class action having disposed of my holding off market. I'll have to wait to find out.