interesting article and Andrew Knight is reminding everyone what nzo have done.
banks repaid 100% as first ranking creditors and there is not even a hint that they should pay anything.
m
Printable View
Commenting on this and DIggers post, it seems the judge targetted NZO purely because they are the largest shareholder (she probably didn't know they are a minority shareholder) and more to the point she is of the opinion that they have some spare cash. By advancing the 25 million at the start NZO probably gave her the impresison they accepted some of the fault. If anyone has to pay out, then after PRC itself the directors should be first to pay followed by PRC shareholders. I guess that means ACC should pay out afterall, being a significant shareholder in NZO.
I see Balance is trying to share the blame with other posters on the PRC thread.
Really, Fish?
David Salisbury told you he had confidence in Whitall at the AGM?
And obviously you BELIEVED him?
http://www.nzherald.co.nz/business/n...ectid=10739851
Excerpt : "The inquiry heard that in August last year, David Salisbury - chief executive of Pike River Coal's major shareholder, New Zealand Oil and Gas - conveyed to Pike River chairman John Dow a loss of confidence in Mr Whittall."
That was August 2010.
NZOG's AGM that year was October 2010.
Wow! The most blatant lie I have yet to witness anywhere in the corporate world has just been revealed.
No need to keep reposting this one Balance. Any competent CEO will speak of colleagues in a good or light if asked at an AGM. Talk to them privately and you may get a different view.
Basically I am a lot wiser than i was 3 years ago arjay . A lot of people lie -especially in positions of power-most politicians and many ceo .Many finance company directors . A lot misuse their power-did you read the article about Don Elder today .
I dont know if ds lied to me or not-he could well have changed his opinion on Whittall . I suspect he lied .On the day of the explosion I had a buy order go through at 5pm on prc. My loss is nothing compared to the real losses .
Those families seem to me to be laying blame on the directors,whittall and government agencies rather than nzo . If that is the case I agree with them-but also include those who planned and approved the mine.
In hindsight it was stupid to build a mine uphill,in methane rich deposits as methane rises to hang around the coal faces.Stupidly i thought waterblasting would make the explosion risk minimal .
I was stupid to listen and trust ds as he also told me he knew nothing about coal-nor did nzo-which is why he wanted to sell as soon as a better offer arrived
[QUOTE=fish;415640]Basically I am a lot wiser than i was 3 years ago arjay . A lot of people lie -especially in positions of power-most politicians and many ceo ./QUOTE]
Sorry but you are not, you know.
You walk right into the trap - because you could not be bothered reading up and following the Commission of Inquiry into Pike River. If you did, you would know what David salisbury said about Whitall.
And you would have learnt a few other things as well about NZOG.
after thinking about the magistrate's decision for last few days and reading some views in media, then have come to the conclusion that nzo should not pay any more than what they have already paid.
the only people that win are banks and legal - by some victim's families wanting to pursue the government - then who will pay their legal fees?
getting back to the magistrate's decision and naming nzo - IMO nzo should not try to appeal them being named - no good will come of it.
nzo can refute themselves being named if they so desire.
some may wonder if the magistrate was baiting nzo by naming them.
would an appeal possibly lead to the directors being charged? opening up possibility of directors insurance coming into play if directors are proven to be at fault. ie if not nzo at fault then has to be the directors, but in the cold hard light of day, it is neither to this point.
M
"Total lack of remorse"
And not a word from Tony Radford yet.