Edited...seems little point carrying on that particular debate.
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Edited...seems little point carrying on that particular debate.
Roger, I would have hoped that we are all not guided purely by profit and legalistic interpretation of events.
There is such a thing as moral imperative - a higher calling than the ugly face of capitalism (which IMO has been shown by NZOG - the pursuit of profits at all costs).
For me, NZOG has failed the moral imperative. What was being asked of them was bugger all compared to the millions they poured down Pike River (recklessly).
They could have stood tall when they were found by the judge to be complicit in contributing to the deaths of the miners, and paid the compensation.
Instead, the directors, management and most shareholders decided they alone believe in what is right? "Total lack of remorse".
Its clear that the $10.5m referenced in Fran O'sullivan's article wasn't enough for you. If NZO were motivated purely by a legalistic interpretation as you state, why did they allow unsecured creditors preference over preferential and secured creditors to the tune of this $10.5M ?
How much would be enough for you to feel NZO had done the right thing for the miners who lost their lives in this associated company ?
Come on, answer the question, how much would be enough for you. $50m...$100m, $290m ?
Roger, how much did the judge asked NZOG to pay by way of compensation to the families of the dead miners?
You should know - that is the amount of blood money the directors, management and some shareholders of NZOG refused to pay.
To recap - NZOG promoted and sponsored Pike River Coal, seconded directors and management to the company, underwrote and put in ever more funds into Pike River even when Pike River went from mishap to mishap, delay to delay, cost over-run to cost over-run, warning after warning. Only when the mine exploded, killing 29 miners, did NZOG woke up to the gravity of what they had sponsored.
Balance - once again a selective interpretation of the facts - The compensation order by the Judge has been fully paid, the judge identified a number of parties and without saying they were responsible said those parties could pay, it is a requirement that if a judge orders reparations that they know they can be paid. it was paid !!
Trying to rewrite history, Bella52?
http://tvnz.co.nz/national-news/nzog...sation-5663191
Getting back to today I notice 5.5m shares going thru at around 80cents - dry hole and all. Someone knows something or just taking a punt?