Jadel and Seamisty if I may suggest for further considerations.I...

Jadel and Seamisty if I may suggest for further considerations.

I notice in the WC reports year ending 2012 there is $180,000 for insurances and for the last six months to end 2012 $55,000.

It would be interesting to see exactly what these insurances are for.

I alluded to some similar things in that we have not had a change of RE, just a new owner and also on 10 April 2013 “…..Part of past legal advice; ….It is noteworthy that where a responsible entity changes, the new responsible entity assumes the rights, obligations and liabilities of the former responsible entity….”

I also alluded similar to this on 19 April 2013 “ ……..From past legal advice; ……..The cost of enforcement of rights arising under ... and what assets are available to satisfy any judgement including.. Insurance of the RE….Insurance of the PIF's assets (i.e. loans)…Assets of the RE….Assets of Directors / officer / employees of RE (past and present) ……..”

I suppose it may be fair to consider that the RE and others back to MFS days are still liable and have carried more than adequate insurances from day one.

I also assume the Custodian must have similar insurances.

And as pointed out Auditors are another issue to be looked out and I also note the recent issues with changes in WC Auditors etc.

All food for more thought and maybe more legal opinion etc.