Or rename the old thread ''Balances ramblings''
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Or rename the old thread ''Balances ramblings''
My personal opinion Balance is, it wouldn't hurt NZO to pay $3m to Pike as more compensation (as suggested by the Judge) but unfortunately it won't help the dead workers and it won't change the past.
Would Bernie Monk or the other families feel any better afterwards ???, I think not, they (not without cause) will always say Pike, NZO. NZ Govt and others let them down.
I lost a lot of $$$ through Pike and NZO but it is nothing compared with what the loss of one of my kids might be.
You obviously have strong feelings about where blame lies, perhaps you should look at the possibilities of a private prosecution or some such similar action.
I tend to agree, although would prefer a pro-rata approach with NZO, ACC and all other Pike shareholders paying respective portions. However, that would hurt smaller PRC shareholders who have already lost their money. In the end though NZO shareholders have voted to reject the proposal so the matter should be left to rest. Nothing will bring the miners back - not money, apologies or any amount of drum beating.
It's a matter of keeping it top of mind for Noggers and the management of NZOG at this stage.
The money would help the families and yes, it will make them feel a little better.
What is glaringly clear is that most Noggers simply want to sweep the whole Pike River situation under the carpet.
Same people who tried to shut anyone down - anyone who dared question NZOG and Pike River over the gross mismanagement of the mine.
We actually have Noggers here arguing that NZOG and Pike River were not at fault - it was the fault of the mine inspectors!
That's how much they want to hide from the cold hard truth.
Well, as long as this is an open forum, this poster will be reminding you all with updates (as they become available) of what actually happened.
Fair enough?
Perhaps NZO should had done absolutely nothing from the beggining balance? Perhaps as a secured creditor they shouldve just taken all their share and not given a toss about the unsecured creditors...just as the BNZ did balance? I believe the funds they injected into the mine after the first explosion was more about it still being a rescue operation before, sadly, it became a recovery. I don't believe it was about protecting their investment.
The well co-ordinates were presumably courtesy of the EIA:
http://news.ninemsn.com.au/national/...ver-drill-site
What does this sound to you?
Statement from NZOG following the explosion :
"NZOG Chief Executive David Salisbury says it is the right thing to do.
"NZOG has always managed its investment in PRC with the best interests of
NZOG shareholders in mind. This decision was taken because there are sound
business reasons for honouring our earlier funding commitment."
And this after NZOG placed PRC in receivership :
""These are very difficult times, especially for the families of the 29 men
who have lost their lives and for the Pike River miners facing redundancy.
Decisions on the mine's future must at least await a conclusion to the
recovery efforts, but NZOG is supportive of any intentions to eventually
reopen the mine. It is to be hoped that the inquiries now under way will
result in findings which allow this to happen in a safe manner."