ASIC v ISX Hearing, page-3434

At the end of the day it’s about character. The court has concluded Karantzis is a liar, he’s dishonest and calculating. That’s the simple essence. Nothing can change that, leopards don’t change their spots. The original Board: Hart, Minehart, Richards and Edgerton Warburton are all complicit and have compromised their integrity. This won’t disappear quietly. As they say trust and integrity takes a lifetime but it can be taken back in a minute. Building a reputation of integrity takes years, but it takes only a second to lose, so never allow yourself to ever do anything that would damage your integrity. Karantzis is smart and a determined visionary but walks on the wrong side of the line. He’ll still pull the strings but not as CEO.