Quote:
Originally Posted by Regulus
They cannot take you money and give you nothing in return.
|
Unfortunately you are wrong. The bankruptcy law is quite clear - holders of these cards are unsecured creditors.
First in line is the tax office.
Then the secured creditors (ie those holding a mortgage over the assets) mainly banks.
If there's anything left (highly unlikely) the insecurely creditors come last.
I do agree it was theft though. the management must have known the game was up and this trick is an easy way to rip people off. They can only get away with it once, so it's saved for the bitter end.
Oh .. And you can bet your bippy the directors paid themselves a handsome Christmas bonus, in the style of Christopher Skase, Alan Bond and Holmes A-Court.
The real rip off however was done long ago - the vulture who bought DSE for a song, dressed it up to look good and then floated it to the current shareholders. He walked away with millions.
The current shareholders were mugs - a pig wearing lipstick is still a pig, even an expensive one.