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?
- Forums
- ASX - General
- OZL
- the banks are at fault
the banks are at fault, page-2
-
-
- There are more pages in this discussion • 6 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add OZL (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online