Bill Moss,now advising ASIC, chairman of PPB which was the...

Bill Moss,now advising ASIC, chairman of PPB which was the insolvency firm dealing with Michael Kings interests/margin lending...Right?

An earlier article

http://www.theaustralian.news.com.au/story/0,25197,25117261-5013404,00.html

Adele Ferguson and Bridget Carter | February 28, 2009
"Former bosses back in business to make a killing"

Adele Ferguson and Bridget Carter | February 28, 2009
Article from: The Australian
"FLUSH with funding from redundancy deals and golden parachute payouts, former business high-flyers are returning as corporate undertakers, using the skills and networks honed during the boom years to profit from the bust.

In some cases, members of a growing army of insolvency consultants are being paid to clean up a mess they helped create.

This time, their aim is to pick up bargains that will flow from the collapse of companies including ABC Learning, the Allco Finance Group empire, Babcock & Brown, MFS, Queensland property group Raptis, Opes Prime and Lehman Brothers.
Former high-flyers back for a second helping include Bill Moss, who ran Macquarie Bank's $23billion property related assets, including the imploding listed property trusts.

Mr Moss, who left Macquarie in March 2007, just before the sub-prime crisis wreaked havoc on property markets, is now chairman of insolvency practitioners PPB, which is overseeing the administration of companies including ABC Learning, Allco Principals Investment Group, digital media group Destra Corporation and Lehman Brothers.

PPB and other insolvency specialists stand to pocket hundreds of millions of dollars from the collapse of companies, while the shareholders of these listed entities have been told to expect little or nothing.

When Mr Moss left Macquarie, he took a package of more than $30million, and hired James Keeran, a former executive at Macquarie Real Estate, to run PPB's real estate consultancy business nationally. Mr Moss told The Weekend Australian he was glad he retired a year ago when Macquarie's share price was $96, compared with the closing price yesterday of $16.98. "I think the highest and best use for a few of the investment bankers around town is probably selling secondhand cars," he said. "Not all of them, but a few. There are a lot of people out there not adding any value at the moment, and what normally happens in a cycle is a lot of investment bankers in a cycle end up driving taxis."

Mr Moss said he decided to join an insolvency business because he could see more than a year ago that things would start to fall apart. Mr Moss said he was surprised more people from investment banking had not gone into insolvency."...............
story continues.