independent director

After the reponse to ASX questions does anyone doubt that the lack of an independent director has perhaps contributed to the current debacle?
Putting up all those shares as collateral was an exercise in madness. Even if they had put them up pro rata at the rate of 80/20 (the offered deal by Opes to SLA stock)they would only have had 16 million shares at risk.
As much as I love what this company has achieved I am very wrankled at the directors lack of prudence.
There needs to be some serious rearranging done re the BOD if they can haul their derriers back into some sort of position of power. GSS.