Seamisty as you more than well aware attempting to initiate...

Seamisty as you more than well aware attempting to initiate legal action against a RE indemnity policy is like walking through a nuclear bomb laden minefield.
I still have on of these caveat loaded documents in a draw somewhere. In my humble opinion we will never get a litigation funder to take on WC in a court of law based on these insurance policies . The value of these indemnity policies is rarely large enough to cover costs.

Auditors are a different matter entirely

Some more research on the Wollongong deal, The three (3) cents we were promised is over half the current ARL valuation of the entire asset value of our Fund.

Where has the bl..dy money gone ?

The deal with the developer of the Wollongong Chifley hotel was done through a trust (Beach Street or Harbour Street Trust or some name like that mentioned in a note to one of the WC financial statements). The trust membership was undisclosed and we do not know who are the potential beneficiaries . So if WC were the sole beneficiary then all the settlement funds have to be distributed to WC. If the beneficiary was PIF then likewise benefits go to unit holders. I guess PIF were not the beneficiaries or that WC were and have taken their costs out before distribution to PIF,