:.write downs dpf and dpfi, page-15

CM,
Current liabilities are those repayable within 12 monthes. Auditors should have picked it up if information was supplied. Lawyers blowing windbags on this issue, how many investors relied on the correct classification of liability when purchasing or holding shares. Who will be able to show they suffered losses as a result of this & what actions did they take to minimumize losses? In the end this is a trivia issue & I doubt much will come of it, in terms of financial impact on CNP (refer ALL case which has taken 4 years to get to court).
Equity accounting certainly would reflect writedowns. Remember fair market value would be about reflecting the change in asset values. Probably will occur in this half as well given share prices have continued to fall since 31/12/2007. Large price gains in share prices can see these items written back so hopefully only a short term issue but I believe will show as write downs for 31/12/2007 if following correct disclosure procedures especially after current liability issue has just occured. Management is not about to hid anything in the accounts for this report.
Regards
Buffett