"Although I admired the attempt to take down the former directors I always thought it was pushing crap up hill. Incompetence isn't an offence, negligence or fraudulence would need to be proved.
And although like many here I may have suspected all 3 were in play, its one thing to prove it. "
1) "
Incompetence isn't an offence"
Pretty amazing statement there Eagles !! So knowingly appointing an incompetent person/s to a board isn't an offence in your mind ?? Maybe do some basic reading of Australian Company Law ??
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2) "negligence or fraudulence would need to be proved".
Eagles, I have no idea who you are and I have no idea what documentation you have in front of you. I do know I have spent numerous thousands of $$ attaining legal documents from the US which were an interesting read. To my dismay, a lot of information in those documents I missed from the coy because I must be so naive and lazy I must have missed them in the official company ASX ann's !! or I was asleep those weeks they were announced ?
3) "I still reckon Steve Graves sleeps well at night and wouldn't even entertain the idea he was incompetent".
Bernard Madoff use to sleep very well at night also !! He probably does now again but with a friend who gives him a great big loving back cuddle to rock him to sleep every night ??
Bernard Madoff never entertained the idea he was incompetent !!
Shareholders in GGP, OGI never entertained the idea the Directors and the CEO were incompetent because they always voted them back in by a country mile hey ? So it's very obvious for all to see each and every one of them are/were competent ! It can't be anything else hey ? Oh, I'm pretty sure Novus thought the same because they used their majority holding to vote them in, continuously. Thats how this democratic voting works right ? So I can't say anything other than to say they are all competent
Finally Eagles,
the attempt by IG to "take down the former directors" as far as I am aware is still happening although it is having a break for now ?? As far as I know, the file is still open ?
I have just rang IG ( I left a message ) to see the latest but I will not be reporting back any detail ( if there is any ) on this forum. If there is anything to report it is up to the IG director/leader to communicate to paid up members.
So there we have it, the competent directors are now moving on to new adventures because shareholders want competent directors.
Best regards to al.
