Insolvent next move, page-110

I sold out earlier this week at a more than 99% loss after holding for almost four years.

When you review the decisions that have contributed to the erosion of enduring shareholder value over that time you do have to question whether a reasonable person, acting on the available information and consistent with their obligations under the Corporations Act and related legislation, should have reasonably permitted such outcomes to occur; whether appropriate governance and operational controls were implemented to prevent such outcomes; and where risks were identified whether effective risk mitigation controls were introduced in a timely manner (including ongoing monitoring and reporting).

Project viability, solvency, remuneration and performance incentives are all key issues that should be considered in the inevitable review.