Hi everone who is interested in this thread and thanks once...

Hi everone who is interested in this thread and thanks once again genibottle for your contributions .Iam by no way legaly minded but have an intrest in this as i have a small holding of notes that is by no means a small amount of money to me .I think your answer maybe something like this with the issue of a prospectus comes the liability .This is a cut and paste from following my research into this .Donna Croker, Prospectus Liability Under the Corporations Law (1998)

In 1997 over $25 billion in capital was raised by companies listed on the Australian Stock Exchange. Recent court judgments such as the Full Federal Court judgment in Fraser v NRMA Holdings Ltd and the increased emphasis given to the need for due diligence under the Corporations Law, have focused attention upon the liability that can apply to those engaged in capital raising for companies.

Those potentially liable include the company, its directors, auditors, bankers, solicitors, underwriters, stockbrokers and those who authorised or caused the issue of the prospectus. This book analyses the liability provisions of the Corporations Law as they apply to those involved in capital raising. It also analyses the defences to liability.

The Federal Government has proposed amendments to the prospectus provisions of the Corporations Law as part of its Corporate Law Economic Reform Program. The book reviews these proposed changes and considers how they will affect those involved in capital raising.

I can say it confuses the brick house out of me but there are interested parties well before this occurance who have had the best intrest of the average punter at heart in gaining better regulation which i have always said if its the only thing that comes from this than all is not lost.We are all copping a bit of a battering with investments and possibly crooked dealing by executives when things get tough .Were not the exectuive involved in outside transactions not in the publics limited eye with there share dealings with hedge funds?Its kinda crazy but wouldnt you think bnb would have challenged the legality of being put in a position to have there debt called in because it was out of their hands by being short sold?ie a force majure i think its called? And well for me taken on a much stronger position with the banking fraternity.After all it was paying all its dues in intrest up until being called upon to pay back loaned money .Id love to be able to go after a hedge fund and win .