As serious as it gets, page-77

Keith

RT was clearly gone when SGH carried out its due dilligence. The new QPP chairman ROSE was probity personified.
Rose of WTG and AG of SGH are not remotely similar to RT. If what RT was up to included fraud - I am no defender of RT ( a fool) -
I rather suspect there would have been handcuffs involved before now.

SGH didn't buy QPP - it bought the Professional services division. So are you implying that due dilligence on NIHL failed to spot
fraudulent claims in process.......or that after 9 months in the saddle AG and his directors had "not altered their views on NIHL " after ploughing $50 m into processing NIHL claims. SGH did not pay a cent for the NIHL claims in progress.

You know very well that the man behind share prophets ( who appeared bleary eyed ,obviously hungover and unwashed
and woffled in a manner straight from Monty Python's flying circus.......who ran an investment fund with a poorer record than 99% on the planet - lost almost all of clients £'s ....who hid in the Isle of Mann goading that he was just a man of straw ....supposedly ran a Pizza restaurant .....and on investigation by KPMG seemed to have "misappropriated £100000 of investor funds " ) leader of the shorting attack on QPP - isn't someone I ( or any sane person) would listen to ever.

Has anyone sent him a bar of soap , a razor or something appropriate to gargle with?

You also know that the authors of Gotham disappeared into thin air when challenged and that an english court made an award to WTG against Gotham - which organisation (?) failed to turn up in court and has never been seen since. Methinks you need to do better than that to substantiate your claim . Fraud ? Pot calling the kettle black I muse.

With KPMG auditors , then PwC £millions report, now McGrath etc the nearest to fraud suggestion is a now completed /with no consequent sanction, FCA investigation into QPP - and a UK SFO investigation into the directors under the RT regime......and a phrase from PwC which emerged "aggressive WIP policy " ( Re QPP valuation of WIP) In the meantime we can mark you down as a short attack supporter. The new SSAP in OZ has also slapped down "aggressive WIP valuation" to the point that it seems ( to me ) to have gone too far and that we nearly have non accruals cash accounting. Stone age accounting?

I certainly don't know the likely success rate for the NIHL claims in progress. I do know that insurance companies were dragging feet in the absence of settled protocols on NIHL cases and that appropriate protocols can be expected to emerge. That is a long way from giving a view on success rates likely. We were led to believe that there were established checks with a high rejection rate in growing the NIHL cases portfolio. We dont know if those checks were good bad or indifferent. Nevertheless the outcome is material to SGH and after 2 reporting periods SGH will have a view on success rates if not the timing of settlements and have a clear duty to tell shareholders about material changes to the outlook. SGH also has a primary duty to claimants. The death of my architect sister was attributed to asbestoss exposure on a government building project. I have obvious views on industrial injury. She settled 3 weeks before she died.

February will be interesting. If there is to be a very low recovery of fees and WIP from NIHL - the directors can not keep silent forever. As I have said before - I don't think it will be quick ( but they have been in progress for 2 years....with 4? months stalling in SGH PSD purchase ) but I do believe material fees will emerge from the NIHL portfolio. How much/material ? No idea. I am sanguine but hope for pleasant surprise.

Mel