My guess is that the RSA operation held a 16.67% holding in...

My guess is that the RSA operation held a 16.67% holding in something, during the half year, they increased their holding.

This wouldn't be a TER direct ownership, as the only associates TER has is into RSA.

I can appreciate that it's easy to blame the CFO, and having seen in my personal career when the CFO is pushed because of financial problems. Yes, Megan would have some influence over financial decisions, but i honestly believe her advice would have been ignored based on the major shareholders being represented on the board just wanting a return. With Nathan Boom (former CFO) disappearing off the executive, maybe he is been made out as the scape goat.

I agree with your other post, TER management may need to do something out of the box to pay the ATO, At the moment business as usual trade will not get them over the line, unless there is a massive jump in the coal price.

I don't believe we will see dividends until the tax debt is paid off, otherwise the ATO will come down pretty hard on them. If they paid dividend before paying off the ATO debt, IMO they would be in breach of section 254T(c) of the Corps Act. TER don't need another court case with ASIC.