Yes just saw that article and a follow up one posted on the Documents page of the FoCR's Web Site.
The articles are a more detailed analysis of what Compass Resources Shareholders and the Friends of Compass have been screaming about all along.
About misleading information, non-disclosure, cronyism, protectionism, questionable corporate collusion to obtain a favourable result, "Opinion Shopping", etc…etc…
But unfortunately the very institutions that we were supposed to be able to turn to for assistance when faced with such corporate misbehaviour are in fact part of the problem.
What a joke… So the big end of town gets away with blue murder once agian (aided and abetted by the corporate regulators and others) and the battler who’s trying to provide for his family and his superannuation gets screwed again.
The effect of this is to seriously undermine the confidence that an investor can have to invest in our market which slowly but surely becomes increasingly detrimental to our market and therefore the ability of companies to raise funds through it.
Company’s fail all the time for one reason or another.
But in the case of Compass Resources a government endorsed “Major Project of National Significance”, it was, in the words from Michael West’s article “one of this country's ugliest corporate train wrecks”…
An article which also stated that: “These irregularities can only mean further distress for Compass shareholders who lost so severely and reprehensibly in the company's crash, and its rehabilitation.”
And still we wait for some justice… Is there any individual, company, law enforcement agency, political party, government or corporate institution in this country that will step up to the plate and right this wrong and send a message that this type of corporate misbehaviour is not allowed and not tolerated in the Australian Market place…
The following is a reference to the recent news articles reffered to above:
