Hate to disappoint but i don't think it would have paid anything (as per annual report):
DIRECTOR AND OFFICER LIABILITY INSURANCE
The Company maintains director and officer liability insurance and indemnifies directors and officers of the Company against
all liabilities which may arise..
From experience it means in instances like this the insurance company pays the 'agreed fine' and settles the case and the company ends up paying for it in higher insurance premiums going forward
Authorities spend hundreds of thousands on lawyers, insurance company spends hundreds of thousands on lawyers.... and of course the only real winners are the lawyers..
Hate to disappoint but i don't think it would have paid anything...
Add to My Watchlist
What is My Watchlist?