James Packer and Lachlan Murdoch are off the hook at last on One.Tel and won’t be chased for $244 million in damages.
One.Tel
Ten profit slumps, activists contemplate EGM to remove directors
The calling of an extraordinary general meeting of shareholders to remove directors of public companies is an incredibly rare thing in Australia. Will shareholders do it at Ten?
No winners, but Jodee Rich gets back on his bike
For Jodee Rich, the One.Tel issue does not end with yesterday’s judgement: he’s still seeking the payment of the $132 million that PBL and News had originally committed for the rights issue, plus interest and damages.
Only a Senate inquiry can sort out One.Tel mess
Whilst ASIC has received the mother of all beltings in today’s papers for the failure to string up former One.Tel CEO Jodee Rich, more attention should be focused on the role played by Australia’s politicians and the Murdoch and Packer families.
Crikey Says: Packer and Murdoch can’t buy their way out of this one
In throwing out the ASIC case against the One.Tel founders, the NSW Supreme Court demolished the idea that two of Sydney’s richest kids — the Packer heir James and the Murdoch heir Lachlan — were unsuspecting victims of One.Tel management in the failed telco’s boardroom.
Maiden: Will ASIC lose its nerve?
With ASIC departing the One.Tel battle with its tail wedged firmly between its legs, the regulator may be less bold in aggressively pursuing cases in the future, says Malcolm Maiden
Durie: The case may be over, but questions remain
Jodee Rich may have escaped the legal battle with ASIC, but that doesn’t mean he’s cleared his name, says John Durie.
Rich home free, ASIC in the dock
One.Tel executives Jodee Rich and Mark Silbermann may have escaped their legal battle with ASIC intact, but One.Tel was still a colossal failure, says Stephen Bartholomeusz.
