An Australian company once valued at $[url removed, login to view] per share and last traded at 16 pennies has just collapsed with 2000 jobs at risk.
The cast of players in this epic game of chicken is long:
the regulator ASIC who did nothing
the directors ..caught in the headlights
the manager..who cooked the books
the banks ...seven of them who stand to lose $250m
the cornerstone investor, an international investment bank who led the $160m recapitalisation less than a year ago
the auditor..facing a $100m+ class action
the suitors ...who made some critical errors of omission
the insolvency practitioners ...lining up for the work on 44 subsidiary companies
the shareholders..oh the hapless shareholders led down the garden path
the employees ...tols by their unions ' your jobs are safe'
Your job is to assemble the true stories of the main players in readiness for the book .
You must commission the web site , monitor and maintain the website , maintain liaison with the contributors ( from the above players ) ..and hope that you are given a larger role in authoring and publishing the book " Hastie: what went wrong".