The fact PwC are so desparately trying to improve their position PRIOR to the aggregation, would indicate ( and confirm Peter Day's comments at the EGM) that they will not be able to legally pursue the new company for any CNP-related class action liabilities. Yes they will go at CER, but at least the substantially bigger CNP class action liability will be extinguished.
Blastoff has made some interesting and compelling James Hardie comparisons, but from the actions of PwC last week, this strikes me as a very desparate last ditch effort to save their chances of mitigating the CNP liability.
If able to do so, you'd think that PwC would wait for the new healthy and larger company to be established, and then go at them with the lawsuit. Their actions of last week would suggest that the sunken CNP ship will be staying at the bottom with no treasure to recover.....
PwC's actions indicate Wouldn't mind hearing other interpretations of the PwC action.
CER Price at posting:
28.5¢ Sentiment: None Disclosure: Held
