bondholders responsible for aussie drought

Let us put DW’s assertions in perspective; should we blame the bondholders for Australia worst drought?

FACTS:
CMQ gave the undertakings it lost the Supreme Court case is mid February 2007.

Australia: From February 2002 to Feb 2007 – for 5 long years there was no regulatory approval despite DW’s repeated upbeat news. Come May 2007 – bond holder blamed for lack of progress.

New Zealand: Application in May 2003. Wow – we have upbeat assessment that this is in its final stages! Should we believe this assessment? Bond holder’s action seem not to have affected this but had somehow affected others!

Brazil: Due to regulatory requirement changes in Dec 2005, a new application was resubmitted in Dec 2006. What dis DW told shareholders in Mar 2006? : QUOTE “Approval process in Brazils is anticipated to be completed in the second half of 2006”. What is going on here? Was DW aware of the 2005 changes in Mar 2006 and when he told shareholders to expect the good news in the second half of 2006!

USA: Submitted in June 2001. Wow – shareholders told in early 2006 it was in EXPEDITED REVIEW STATUS. Meeting with FDA was planned for early 2007.
Comes May 2007, this meeting was cancelled indefinitely – why? Bondholders to be blamed. Hold on, the supreme court judgment occurred on 1 Feb 2007 and undertakings to restrict spending occurred in mid Feb 07. For almost 5 years (June 2001 to Feb 07) everything was progressing hunky dory and in the recent 2 months everything had gone upside down because of the bondholders. Oh yeah?

EU : CMQ is currently reviewing information and deciding on the best approach. So this had not been affected by the bondholders?