Hawka u r spot on. 80 mill for a company the size of plv is like bhp losing 200 bil.
It is all in the definition when one is trying to determine negligence vs incompetence vs recklessness etc. negligence is the failure on any particular occasion to meet required standard of care. Incompetence is the lack of ability. Issues like evidence if due diligence, appropriate recruitment process and governance structure are some issues out of many that are looked at. Either way there is some recourse . The question is to what extent. Plv management seems to have already accepted failures by bringing in independent auditors. The cr would work against them as a prospectus would reveal lack of disclosure, be it voluntary or involuntary. The paper trail is the key.
PLV Price at posting:
3.4¢ Sentiment: None Disclosure: Held
