the banks are at fault, page-2

Ruubish....responsibility lays sqaurely at the feet of management, and management only....not the government or OZL's creditors. It is they who kept spending when they knew debt commitments were approaching...it is they who misled shareholders as to what debt was due when, it was their mismanagement that led OZL into this situation.

It is foreign banks who are asking for their money, and they have every right to...it is not they who are breaching their agreement, and in fact they have already extended terms when there was no requirement for them to do so. They lent money for a specific period of time, not indefinately.

And in any case why should shareholders of a bank, any bank, take a hit for the benefit of shareholders of another company, when they have met their contractual obligations and not breached any agreements, whereas OZL has?