Ann: Facility Agreement with SIO Partners LP, page-64

WP is not a ‘newbie’, come with a pretty impressive background, and, imo, would/should be quite knowledgeable on ‘how purchasing is done, old boys networks’ etc etc scene and time frames in regards to approvals for IP.

He may not have known the specifics. You cannot expect that, it's simply unreasonable. From personal experience I have to say that the dodgy things that went on were never evident to an outsider and there are always layers of information. When you work out the reality it can be too late to avoid the consequences.

Surely this entire sector is risky and that's only partly because murky practices exist.

I really believe WP may have been out of his depth, he did say himself it was more than he expected to turn this around.Not all lost we would hope, AGM, NO spill, then either a ‘rain maker’ of a deal or down the chute with a CR.

If people go aggressively as threatened, and try a spill, the results will be worse than anyone expected. IMO.