appointment of voluntary administrator, page-26

As in most cases (HIH, Onetel, ABC) the signs are there if you do the analysis of their reported information.

As with all reports - they are audited against accounting standards, not how clearly they read - so its no easy. Anyone that looked closely couldn't reconcile them with the fundementals required for them to be a sound investement.

They were not "subsidised by Government" or "a sure thing in a monopolised industry".

Current financial situation has only brought forward the inevitable.

Surprised that the banks and large investors continue to make mistakes? Everyone seems to lower their standards in a bull market.