They have been given too long to separate and divide assets and...

They have been given too long to separate and divide assets and create shields against potential legal actions that it wouldnt be worth it. 

The Rocklands group is separate to the company now I believe? I think CuDECO itself is a different entity from the mining operations (dont quote me, as its something that was milled around...<--haha only thing that got milled i guess excuse the pun).

There are a few avenues (strictly speaking as a personal opinion and not providing any advice DYOR) that the Board coudl be help liable for losses.

 * gross incompetence/gross negligence/insider trading;

* corporate espionage resulting in losses;

* willfully misleading ASIC/Govt/shareholders;

* using company funds inappropriately;

 etc etc there is probably about 14 or 15 avenues to look into, but the legal fees would encompass losses unless you are into the millions....look at the legal loss the company had to a previous director and how much of the shareholders money they spent fighting it without going to a vote at the AGM and providing that information at the earliest opportunity. I mean, gee whiz, imagine heading a publicly listed company and withholding that sort of information until it has gone through court. Kind of like having massive debt and a "potential" reconciled but unreleased to the market LOM plan that will not recover losses DYOR. - There is also the potential grounds that if you can prove that any Board member has had ANY prior knowledge of wrongdoings or information that would result in considerable negative public image but withheld that information, lets say a quarterly report that no one can sign off on if released or if any Board member used knowledge to buy or sell shares prior to a market release, or instruct anyone else to buy or sell before any market release. But we dont know anything about that as the general public.

They cant be held liable if they have the IQ of a garden hose and traits that resemble Disallowed peddlers and made people believe them. Only if you can prove that they knew that it was Disallowed..........

But if I was the Board, I would be treading very carefully as to ensuring that current staff were treated very fairly and equitably lol without breaching the 'No Communication' edict from the Mines Inspector, which surely hasnt been breached. dyor dyor dyor