public interest information, page-2

These people should be given more time to transfer their units, without incurring a liability, for two obvious reasons.

-1. The behaviour of Brisconnections has been to infer to its unit holders considering off market transfers that such behaviour was fraudulent. The judgement of Justice Robson indicated that the securities are not a liability, so their transfer cannot be a fraudulent transfer of liability as suggested by Brisconnections. Has Brisconnections satisfied its legal obligation under the continuous disclosure requirements of the corporations act? In this instance I believe that Brisconnections has a legal obligation to clarify the information that it has previously sent its unit holders. It has not done this.

-2. There has been very little time since the judgement of Justice Robson for unit holders to conduct off-market transfers. This has been compounded by comments that unit holders need only sit tight and their dilemma would be resolved, provided that they agreed to vote against the resolutions. Coincidentally, this proposed deal disintegrated at around the same time that Mr Bolton sold the voting rights. Consequently it is a possibility that parties have acted on inside information to the detriment of unit holders.

The treatment of unit holders in this mess is easily the most shabby and disgraceful in Australia's corporate history. And the regulators have been a joke, standing by while these poor sods have had their guts kicked in.

All my own opinion. I wont forget this