and more news, page-14

Admittedly, I am not overly farmiliar with the James Hardy case, other than it being legal action taken by asbestos victims seeking ompensation.

My gut feel is that the Senior Lenders of CNP wouldn't have entered into the current arrangement (ie become equity owners) if their investment was at such risk of litigation.

Maybe their investment horizon is short and they don't care about waht happens with litigation down the track. In any case, your James Hardie comparison does give cause for concern.

My only hope is that the courts spread the pain, given that the presiding judge in the Asic case was critical of PWC and found that the CER/CNP directors had acted honestly, albeit lazy on the detail when signing off on the 2007 accounts.

Thanks for the feedback anyway.