re:directors are getting nervous, page-2

may have been mentioned elsewhere

"Counsel for Australian Style, Garry Bigmore, QC, revealed that Australian Style was considering a potential damages claim against Macquarie based on the evidence the investment bank has tendered to court in Queensland about its contractual obligations — information that was not revealed in the BrisConnections public disclosure statement"

so maquarie reaped a fortune in fees, and then did not reveal the full nature of its contractual obligations

the following was interesting

"



He said Mr Bolton had called for a wind-up after calculating unitholders could get a $263 million return -- equivalent to 67c on each partly paid unit without the second and third instalments being paid.

This compared with unitholders immediately losing at least $1.40 from the next $2 of instalments if the trusts continued as a going concern.

Mr Bolton had therefore calculated that unitholders would be better off by $2.07 a unit in a wind-up.

Justice Robson said Mr Bolton's Australian Style Investments had entered into a sham option to "put" his holding to a friend of his father, was "slow" in lodging his tax returns and had been an "unsatisfactory" witness. But all those factors still fell "well short" of the conduct necessary to take the extreme step -- urged by BrisConnections -- of winding up ASI, an otherwise profitable company. "

so it seems that mr bolton is in there to make a motza - and good luck to him. those that sold to him, were happy to get rid of the liability.

if there is an offer, then one wonders what the offer price will be???? 5c, 10c, 20c, 30c??????