[LINK] OT: Re: Hardies decision ...

[Frank O'Connor]

And you know what REALLY hurts ...

For the last year or two Joe Public (via the Australian government) has been picking up the Fund's bills because Hardies says it can't afford to pay them. Of course, Hardies is saying it will pay it all back ... the cheque's in the mail ... but I don't put a lot of store in that. 

If it had been up to me, I would have wound them up as not being able to pay their debts, and distributed the proceeds from the sale of the company's assets to the asbestos victims. Technically they are trading whilst insolvent, and their current Board should be held responsible for that.

And if these 7 directorial clowns are EVER allowed to sit on the board of any public company again it will make a mockery of corporate law and corporate ethics in Australia. They tried to cheat dying mesothelioma victims, and were caught ... there is nothing these seven would not sink to. 

They have no moral compass at all. 

No lines that they would draw in the sand. 

They are completely without merit.

They should be completely ostracised ... but corporate Australia and the NSW Judiciary seems not to agree.

I sometimes think it's a REAL pity that we don't elect the judiciary like they do in the States ... but then I see the disadvantages of not having the judiciary come from a self serving, incestuous, money grubbing, ethically bankrupt, parasitic cartel of lawyers like we do, and am forced to concede that knowing whoever you put in there has the training and qualifications to obfuscate and confuse the lay public even-handedly and without bias, is probably better than a system of political pot luck like the Americans have.

Just my 2 cents worth ...
---
On 03/05/2012, at 1:08 PM, Frank O'Connor wrote:

> They had an (undeserved) tax win that should help. 
> 
> The tax was levied in respect of the scheme they put in place to avoid funding the liability, and (again from memory) the NSW Supreme Court said it should not be levied since Hardies had wound their Dutchi-fication back. The Hardies "Ooooopsie!" defence has now gone down as a classic in legal eagle history.
> 
> The NSW Supreme Court is getting to be the place to go if fine upstanding public company directors and officers, and responsible tax evaders, want to evade any liability to shareholders, workers, customers, the ATO or any scum of the earth who would presume to actually hold them responsible for their actions or lack of action.
> 
> I mean ... without the NSW Supreme Court, the peasants would rule ... and fine upstanding members of the corporate aristocracy wouldn't be able to suck everyone else dry with their rightful and just remunerative claims, and, heaven forbid, they would have to accept some accountability and responsibility for what they are getting handsomely paid for.
> 
> I mean ... I mean ... that's just not done.
> 
> Far better to have the members of the righteous and incorruptible NSW justiciary in their corner ... time and time again. One could even be forgiven for thinking that money changes hands across the Bench ... but, nah ... that's never happened in NSW. Just a statistical aberration ... that's all.
> 
> Never would happen. Never could happen.
> 
> I mean ... they're one of us. 
> ---
> On 03/05/2012, at 11:24 AM, Jan Whitaker wrote:
> 
>> At 11:13 AM 3/05/2012, Roger Clarke wrote:
>>> This judgement goes some way toward placing an appropriate level of
>>> legal liability in behind the grossly overpaid Board-room denizens of
>>> major corporations.
>> 
>> But none of the fines or judgments has done much about the $1.5Bil 
>> shortfall in the fund.
>> Maybe the liars should pick up that tab, or their insurance companies.
>> 
>> Jan
>> 
>> 
>> 
>> Melbourne, Victoria, Australia
>> jwhit at janwhitaker.com
>> blog: http://janwhitaker.com/jansblog/
>> business: http://www.janwhitaker.com
>> 
>> Our truest response to the irrationality of the world is to paint or 
>> sing or write, for only in such response do we find truth.
>> ~Madeline L'Engle, writer
>> 
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