Is Arrium following Ansett’s fate ? Where is ASIC?
According to Ansett Airway administration article by SMH
“...Ansett is probably the biggest and almost certainly the most profitable insolvency in Australian corporate history. It shot Mark Korda and partner Mark Mentha to stardom on the liquidators' scene after the two young partners of Arthur Andersen set up shop on their own and took the Ansett business with them…… The real reason we don't know comes down to systematic regulatory failure involving Ansett's financial accounts....”,
Is Arrium following the same fate as Ansett under KordaMantha administration???
Despite the iron ore prices have almost doubled since administration back in April this year and the financial metrics of the company are at its best in years, it appears that selling everything Australia has left in this company to the foreign buyer as the only option the administrators are pushing for….
Senator Inquiry is a MUST!!!
Refer to full details of article by Michael West http://www.smh.com.au/business/when-
