And with Pasminco let's not forget the independent director of...

And with Pasminco let's not forget the independent director of Arrium Mr Bryan Davis who has sat on the Arrium board since 2004, was also a director on Pasminco - the second company he has been partly responsible for destroying shareholder value - disgrace.

And to think last November at the AGM when his contract expired and he was up for re-election to the board he offered the pathetic excuse that at age 70, he had skills and experience such that he wanted to part of the "solution" for Arrium shareholders - Bugger off.

Look where it all ended up by April 2016. Still, thank God KM is finally not paying this deadbeat out money as directors fees.

Once again, if shareholders in Arrium get wiped out and get nothing in any re-cap plan, there will be a class action lawsuit against the Arrium directors - KM should take note of this.