When I mentioned ASIC it was from a perspective that when they determine directors breached their duties and corporations law it makes it easier for a court to deal with a civil action brought on by litigation funders on behalf of shareholders.
Don't pay too much attention to willfull aspect, it doesn't hold up in this case, it is more like a suicide exclusion on a life policy, this is different and shareholders are covered by policy. Litigation funders would not get involved if recourse on D&O policy is not available.
PDY Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held
