kpmg, page-13

Hi Mark, how do you know current holders should not have to pay, OZ would probably have director indemnity insurance to cover directors butts, but you (thru IMF and others) are also suing the company, what insurance would pick up the tab for that, I hope someone with some legal knowledge could answer that question, if KPMG made this error then they should be held to answer as well.

We all lost because we took what we were being told as fact, when IMO we know now that mgmt and board themselves didnt know the true situation that was unfolding, but that is not what the legal case you are participating in is about, it is just about this misclassification of debt, and not about the many other errors and misjudgements that mgmt and the board made leading up to and during the GFC.

They paid out $150million in Divvies, just months before we came off the rails, Zinc prices were already falling sharply, in hindsight just not paying that divvy could have saved us most of the company.

I should not have had a go at you mark, (I know that you and others lost huge amounts in this, I probably only had 15% of my total personal wealth tied up in OZ at the end) but that vindication point you made really p####d me off, we obviously see things differently, we all know we were told untruths about our finances, were they deliberate, if you can prove that, sue the directors.

cheers grant
the above is opinion only and written without prejudice