For sure not what I wanted to see.I understand there is a court...

For sure not what I wanted to see.

I understand there is a court hearing today which will address the issue of possible creditors. I certainly would not want to see the company, if found guilty, to be able to abscond from its responsibilities to pay damages. Though as I watched much of the ASIC case I have developed a fairly strong opinion on the majority of the charges, but as an amateur in this area will keep my opinion to myself until the verdict is given. The verdict may not be what many expect.

Having said that, and as mentioned earlier, Canada is hardly a lawless wasteland. Provided GSW can provide a compelling enough argument to the federal court that they will be able to be pursued for any potential legal costs in Canada, the treasurer blocking the move would be a troubling precent for govt intervention in free market. If the federal court (the legal experts) is satisfied on this particular issue, it should also be good enough for the treasurer. But we wait and see what the court rules, then to see if the Treasurer respects this decision.

Glad to have trimmed my position at 70c, but while the Govt is in control of our fate, hard to justify any further investment until there is clarity on this. I would hope GSW lives and dies on its commercial success or failure and not the whims of a politician.

Not sure what the angle is for ASIC and CA here either, unless they are confident GSW will be covered by insurance, there will not be much left for them should they be successful in blocking the move.

A few critical decisions to come.

All in my opinion, DYOR

MJ