nz news, page-2

Thanks ozzieo'seas,
I remember this article and now can slot it into archives.
Mind boggling isn't it, to read about flippant "liquidators" chucking hard earned assets into trash bins labelled "write-offs".
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OPINION: It's amazing what you find in the loft. Chalkie was rummaging around some dusty archives last week and found a clipping that smacked his gob.

It involved court testimony by one David Anderson, former chief financial officer of the gargantuan mess known variously as Octaviar and MFS.

In the newspaper report, Anderson was quoted recounting how in June 2006 the Australia-based group had sold 60 per cent of its New Zealand operations, but a clause in the contract entitled Octaviar to a management fee equal to 100 per cent of the profits of the business.

http://www.stuff.co.nz/business/opinion-analysis/8728056/Investors-stiffed-and-mums-the-word