Accordingly, the Company has today commenced proceedings in the...

Accordingly, the Company has today commenced proceedings in the Supreme Court of Queensland in relationto unlawful payments and transactions procured by Mr Timoney. Mr David Herlihy, who was Chair of theBoard during all relevant periods, has also been named as a defendant for his role approving the payments andtransactions.

Civil proceedings- so not charges. But agreed the particulars would be very interesting!

Most likely suing for a loss from a breach of fiduciary duty or breach of directors duty under the Corporations Act 2001. The content of such duties, at the very least, require the men to act in a commercial manner in all their dealings. The part in bold above suggests to me some dealings have been not commercial in nature and benefited related parties or himself.