Fishinnick, can you please list the DD you have done that would indicate the business operations issues of CTD that back up VGI's short. CTD engaged an independent auditor experienced in the Travel industry to look over VGI's claim against the business and Financial operations. The auditor found that VGI was wrong and put it in writing. See the ann.
Its well known that Shorters play dirty and play the man. Not one of the articles you link have any evidence or even specifically mention any of the areas of business or financial operations that are under question, if any still are - they obviously do not want to be sued. The closest we get is in the SMH article 22/2/19 which says Diogenes report infers in relation to profit and momentum that some of the drivers are not high quality. It does not specify the drivers and that destroys the credibility of the statement.
In the article link 1/3/19 it says that VGI rather than CTD at this stage are more at risk of a class action.
Can't compare CTD to BLA who were way overvaluing assets and consequently overstating prospective fees as a result. VGI threw a net over everything CTD. Slater and Gordon were in debt up to their necks. The legal talk by CTD is around 'hurting the business'. If the publicity scares off potential CTD targets then yes it will or maybe has already hurt the business and maybe future profit momentum. Still CTD has a record of meeting forecasts comfortably and Business travel has not been reported to be on the decrease. I note FLT says Domestic leisure travel has fallen off a little. So far no downgrades by CTD.
I would not be at all surprised if CTD staff were approached. So far this has been a very dirty affair. I would not be surprised if the Joe of the AFR was fed tips from VGI. Journalists receiving tips is common practice. The rules need to be changed.
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