So let’s see if I’ve got this right……..KDL owe unsecured...

So let’s see if I’ve got this right……..KDL owe unsecured creditors $6.3m; they owe the WA taxpayer $31m in rehab costs, unpaid royalties and taxes; and they owe workers $6m. They want to walk away from any ongoing legal liability for the whole deceitful mess they’ve engineered by paying the petty sum of $1.5m, of which trade creditors would get zero.

Furthermore, KDL would rank ahead of anyone else and get the first $1.8m from the sale of the remaining diamond inventory and also get the opportunity to buy the whole of the Ellendale assets back in a blind auction for a pittance?

There’s no way anything will be left over from any potential Ellendale sale and KDL know it. The assets were only sold by previous owner Gem Diamonds after an 18-month fruitless search for a buyer because KDL was able to engineer the payment of $12m worth environmental bonds from the WA government. And we know how that ended.