are ARI shareholders striking at govt?, page-9

Below is the letter I sent to Shorten around 6 weeks ago, to date no reply.

In the last few years we've seen corruption by Politicians, Union Representatives, ATO highest levels, Customs, Coprorate Australia and now potentially the banking industry. Will a RC into the banks uncover similar corruption within the Corporate Regulator, insolvency industry and banking instiutions ?

Karma has a strange way of finding those that a first wish to deceive.


"Dear Mr Shorten,

I have attached a copy of a letter I recently sent to Malcolm Turnbull re the circumstances surrounding the Arrium Administration including the lack of action from the Liberal Government from illegal dumping of below cost Chinese steel into Australia in the years prior to 2016 costing thousands of steel workers their jobs and ultimately playing a significant part in Arrium's demise. Christopher Pyne placed 50% tariffs on imported rod in coil and reinforcing bar two weeks after Arrium entered administration, a case of too little too late after being warned by both Arrium and BluescopeSteel directors the impact illegally dumped Chinese steel into Australia was having on the viability of both Arrium and BluescopeSteel. On top of this former Federal Minister Andrew Robb after having pushed the FTA through with China in 2014, is now enjoying a $70k a month consultancy gig with a Chinese Corporation who is also a donor to the Liberal party. Doesn't really pass the pub test does it, Bill ?

I also highlighted the lack of financial reporting being released by the administrators KordaMentha which is a continuation of the Ansett administration where ASIC allowed similar behavior to occur despite KordaMentha being legally obliged to provide the financial reports for Ansett from 2004 -2011. The senate inquiry into the insolvency industry in 2010 recommended that ASIC be stripped of its powers in managing the insolvency industry, as you know ASIC is still the regulator and KordMentha currently the Arrium administrator.

As you are no doubt aware Arrium Australia has now been sold to the GFG headed by Sareev Gupta, only rumours around currently with a supposed purchase price of $700m. A one hundred year old business being sold to foreign interests yet yourself and other political leaders believe this is a positive result for Australia, keep in mind thousands of Arrium workers have lost their jobs, taken wage cuts and thousands more being told they are unlikely to see any return on their Arrium shares which many have invested considerable savings in since Onesteel floated from BHP in 2000.

The question is why are you not making more noise about this situation Bill and the failures of the Liberal Government, not to mention the destruction and theft of a one hundred year old business by Corporate Australia, Banks, ASIC, Federal Government and KordaMentha ?

I notice you were represented by Leon Zwier at the recent Royal Commission into Union corruption, sadly where the findings resulted in some Union representatives being charged with corruption and facing goal time. You were cleared of any wrong doing. The concern I have is that Leon Zwier is a high profile Corporate lawyer specializing in the insolvency industry, he lead the call for the Courts to overrule the Sons of Gwalia case where shareholders were able to line up as unsecured creditors in front of banks if Company Directors had mislead shareholders. The same Leon Zwier heavily involved in the Arrium DOCA where special permission has been granted where assets and people can be moved from one Arrium business to another so that this strategic asset can be sold a foreign entity who will also pick up the $1.8 accumulated tax losses effectively paying no tax for the next 4 - 5 years.

According to media reports you were a recent attendee at Leon's 60th birthday bash.

Do you think it appropriate as a potential future Australian Prime Minister that you accept free legal defense from a lawyer so heavily involved in the Corporate sector ? Will it compromise your position at some point in the future ?

One of your slogans is 'We'll support the people', with your silence and inaction on the Arrium situation you need to start practising what you preach as it's not a good look for Federal Politicians on both sides, Corporate Australia, Unions, ASIC or the insolvency industry. Just the theft of a company along with the savings of working people and their families by wealthy individuals, banks and other Corporate entities.

Regards,"