time cometh to revive...

... the wrongdoers and drag them through courts; US, NZ or anywhere else.

Here's one that should not get away! 9 September reminder.
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7 years ago February 01, 2008 12:00AM
MFS chairman and former federal Liberal leader Andrew Peacock yesterday broke
his two-week silence over the embattled company, saying he wanted to do the right thing
by shareholders. Mr Peacock said his role as chairman had absorbed "just as many hours"
during the fortnight as had his job as Opposition leader at the height of his political career in the 1980s.
"We're managing through a difficult situation ... it takes time," Mr Peacock said.
He would not disclose the circumstances surrounding his appointment as chairman of MFS last March,
but said he was surprised at the group's share price collapse two weeks ago, when more than $1.5 billion
was wiped from the value of the company. "I was surprised by the meltdown in the share price on the day,"
Mr Peacock said.
"The then chief executive (Michael King) made the announcement he did and I didn't expect
the share price or the market to react in the manner it did." MFS shares were suspended
from trading after shares in the company- which had been trading at about $5 in December
- slumped to 99c following an announcementby MFS that it was attempting to source
$220 million of previously undisclosed debt.
Yesterday, the MFS pain spread across the Tasman, with MFS New Zealand,
which holds about $300 million of investor funds, also entering a trading halt,
citing "uncertainty" facing its Australian parent. That move follows an announcement
on Tuesday that MFS subsidiary MFS Premium Income Fund had frozen the investments
of more than 10,000 people - totalling $770 million - for up to six months.
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Gives you chills just reading,

Regards,