S8 were playing the same game as MFS overpaying for assets, heaps of debt and major ego issues. The only difference was that they knew it couldn't go on forever but amazingly did not think to take cash on the exit.
If there is anything eventually left for the minority shareholders in MFS I would not be holding my breath if the S8 team is back in the hen house.
Wasnt it Tony Smith of S8 who famously said in BRW that all accountants and auditors are dickheads, but then in hindsight it looks like he was 100% right.
MFS
mfs limited
