If this business does appoint an administrator then my reading of their contract terms (see announcement of 20 November 2014) is that the ex-Leightons CEO and CFO who WDS brought out of retirement will each get a minimum of 1 year's salary. Something like $1.1m and $750K respectively.
It's exactly these situations where the D&O insurance should come into play and hopefully provide shareholders with some recovery. The comfortable retirees should be the shareholders, not the management.
WDS Price at posting:
10.5¢ Sentiment: Sell Disclosure: Not Held
