There's little doubt that McLeod was personally responsible for some of the most poorly considered commercial lending ever undertaken in N.Z.'s corporate history, he had a free option to explore growth, (appently with gross disregard for the risks), at any cost.
To be rewarded with one years salary on departure when he should have been on the hook for the $15m loan repayment is a scandal all of its own. This guy deserves to have been bankrupted allready in my opinion.