Ann: Quarterly update from the Deed Administrators, page-4

Great Commentary Professor. I guess you mention UBS twice as these guys are double trouble! They were the ones that kept pushing and endorsing people to continue to buy Arrium on 4 separate occasions over 2 years right up till the closing. And I was one of their suckers!....as an inexperienced investor who had followed their advice it has been a lesson well learnt, as $70k in the hole leaves a simple mum/dad investor well scorned, now with a tirade of hatred towards the board/management and now to KM.
It was a simple investing philosophy around the Warren Buffett quote; "I never attempt to make money on the stock market. I buy on the assumption that they could close the market the next day and not reopen it for ten years". Yes I knew the risk however the company never advised of any trading issues or announced the ever increasing debt. The assumption, everything goes in cycles and things would have eventually turned around was correct as look at the price of Iron ore today. But the issue with Arrium was the board that kept producing unwarranted volumes of supply at a massive loss when the price was at its lowest which caused the real issue.
Under the right controls this could have been turned around but between KM and the rest of the hangers, this thing is now being bled to a death by a thousand cuts....this result is almost criminal. Karma is a bitch and I look forward to the day it comes back around to bite those involved in this debacle as payback's a bitch!!