The legal; tactic of the defence will, of course, be to prove criminality, firstly by Marylyn Watts and by some of remaining ex OCV, PIF directors and thus minimise compensation
Many Eons ago ( probably on another planet)I went through a similar experience and happened to get my hands on a Directors Indemnity insurance policy in relation to another of my past investment errors. I still probably have the document stashed in a draw somewhere.
You would be absolutely dumfounded at the inserted clauses that that allow the insurance companies to renege in the event of a perceived criminal act or other violations by the Directors of a company .The policy I had even had a time clause inserted into it. In other words if you did not claim by a c ertain date( two years) the policy was invalid
A case will also be made that the GFC played a part in the losses incurred by investors
That is why I strongly council against some investors being to optimistic in relation to what we can achieve from the Class Action .
OCV Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
