I believe the actions of the directors will be shown to be in...

I believe the actions of the directors will be shown to be in breach regarding some of those payments, that seems a no brainer and it certainly was the icing on the cake to stimulate this action.

The bigger issue however is the collapse, I have said before it would not surprise me if there is a raft of witnesses uncovered, email evidence of issues being raised months and months ago along with other negligent duties being exposed. Will be interesting when ANZ execs take the stand and we hear what was discussed at these meetings. Also lets not forget how leaky the ship was and the contradiction some of their ASX releases were to what was unfolding in reality.

IMF may have already obtained evidence in conjunction with lawyers, once the collapse occurred the canaries will start to sing.