ASIC doesn't have the funds or wit to anticipate or even respond to events following the Opec decision to over-supply the market. Clearly JC exercised poor judgement on the oil price, but that's history. The issue now is whether the administrators are acting in the interests of all stakeholders or only those who are paying their way and in a hurry to exit.
If the latter, they may be need to be encouraged to think longer term and avoid a class action if they fail to take into account all stakeholders. Lawyers associated with accounting firms such as Deloitte chased after Babcock and Brown directors and although final legal settlement is still a way off, there is net cash that has been obtained from that disaster. What was required was a measly $400 each from 800 or so shareholders to fund an "inspection".
You can email, [email protected], and let him know that you think FTI' actions need to take into account all stakeholders.
AZZ Price at posting:
50.0¢ Sentiment: Sell Disclosure: Held