Chess board laid, page-85

I don't give a rat's arse about where the money ends up, pos98 - both holdings are immaterial to me. But just for the record, the damage done to SGH will be a great deal more if the claim doesn't succeed, than any benefits WTG and its shareholders will gain by WTG getting the money. imv it's a desperate attempt by Grech to blame someone else for his abysmal handling of the acquisition from start to finish. He told everyone in the 2015 accounts there was nothing materially wrong with what SGH had acquired FFS. He didn't have a clue what was going on 6 months into SGH's ownership of PSD and 9 months after 70 or 80 of his people had crawled all over QPP's records for nearly two months (PwC was carrying out a parallel investigation at the same time and they didn't find much either).

The fact QPP chose to restate their accounts usng much more conservative accounting policies (probably to improve their tax position by being able to record a much larger gain on the same of PSD, at the same time giving the new directors a clean sheet to start with) doesn't mean the previous accounts were wrong. SGH acknowledged the accounts were a moving feast and told everyone they'd relied on their own work and applied their own accounting policies and the business they'd acquired was a winner. Then they changed everything. WTG might make this observation to the barrister.

It's impossible to explain things properly to people whose intelligence and experience is below a certain threshold, pos. Sadly I don't think you reach it. I did my best.