At the regent GM, CEO Trimble complained about the cost of the VCAT trial but failed to mention that PPN had Directors & Officers Indemnity Insurance through DUAL AUSTRALIA.
An article in THE AGE reports that PPN is taking DUAL AUSTRALIA to court in regard to its Directors & Officers insurance. Apparently PPN says Dual has failed to abide by a contract that requires them to negotiate in good faith in situations where some of the costs are covered by insurance and some are not.
Read more:
http://www.theage.com.au/business/kelly-a-steadfast-and-ageless-ceo-20130714-2py4l.html#ixzz2Z63zoVLW
You can also read the wording of the DUAL D&O Insurance coverage on:
http://www.dualaustralia.com.au/files/documents/Dual_Australia_DO_Wording_02-11_V1.pdf
Why do we have to find about these things from the media instead of an ASX announcement?
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