hey i've got an idea, page-9

Jules .. you need to know that $ 100 000 000 of tax losses can be the poison chalice . MSCs achilles heal - besides Vic - is the bank debt secured on the fraudulent valuation at SR . This valuation was the mother of all cons . I even received a call from the Valuer asking how to validate the valuation ! I told him to enter it at 0 and go backwards.The bank debt is with St George back in the old pre merger days so its on their books at around $8M by memory. The lease was done with Meridien Capital which was the real slam dunk so there are covenants all over that. The real value of the SR asset is salvage value minus the horrendous cost to dismantle it and move it . ( Comalco sent their old kaolin plant to the metal shredders even after spending $ 200M + on that white monster.)Then their are rehab costs of the site on the banks of the Wild Rivers jurisdiction .
The rest of the stuff is total baloney so there is a case to convict Vic and his marionettes on the Board for fraud big time and put the corporation oot of its misery .