owen hegarty article, page-18

Hi Falco.

OH was indeed watching the whole show mufold from the sidelines well into the deadline time.

Cusack and Michelmore were doing all the negotiations with the banks. Michelmore comes with a lot of baggage and it is common knowledge he may well not be the best person to be fronting the banks. However he ploughed on with the backing of Cusack. The blind leading the weak. Cusack indeed was seriously lacking in the international skills nneded to hustle the banks also.
The boat was totally rudderless.

No use blaming OH, he was long gone, Cusack and Michlemore wanted him ditched asap so they could step up the Harvey Norman sale of the cheapest copper and gold asstes ever to hit the market. Forget the morals of giving and accepting the $10 mil handout to OH, that was nothing compared to the inept handling of the Ox by Cusack and Michelmore.

Does anyone wonder who started the smokescren of the $10 million handout and how that took the heat away from others mentioned. It's quite simple. I know the answer to the question, would OH have engineered the same result for the company given the same situation compared to the Cusack / Michelmore circus.

Anyway we all move on, the facts will come out one day. I lost a fortune because I didnt think such duffers could so badly mishandle the financial situation.