Extracts from The Austrlian.
"It is important that allegations of dishonesty should be made only where there is a reasonable evidentiary basis for them," Justice Gilmour said. "It is my opinion that, on the totality of the evidence available to ASIC, there was no such basis in this case"
Justice Gilmour said the Fortescue board did have legal advice backing up its position. Emails and minutes of a board meeting referred to the legal advice, but ASIC had not told the judge about this vital information.
This is very damning. The judgement from Justice Gilmore would make one conclude that ASIC is in fact guilty of the very dishonesty that it is accusing Forrest and the board of.
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