http://www.theroar.com.au/tv/western...ebels-funding/
Welborn stating that the ARU outlined 4 components that would need to be met to retain the Force in the days leading to the meeting in Adelaide. Despite Twiggy meeting all of the conditions put forward by the ARU, the ARU refused to budge after giving these conditions in the days prior. Twiggy offered $6 million a year over 8 years and $20 million to help the ARUs potential legal case with SANZAAR. This was also refused.
The 6 million would have propped up Imperium.
Welborn : "We found it ironic that Mr Clyne spent the majority of the Adelaide meeting explaining to Mr Forrest the challenges of operating a business in a declining market when the iron ore price had just dropped from $150 a tonne to under $50 a tonne which forced Fortescue into a restructure of how they did business."
I'm almost under the table.......
Quote:
Originally Posted by Moz
You prop up deClyning business by forgiving their debts, and sending over the bagmen
welborn spoke very well
Leahy leads with confidentiality ... hmmm
Leahy stated when Clarke was introduced to Gary Gray
"it was a different approach" ... touché
Wow, Leahy has just dropped the ARU in it!!! "Its a different approach" when talking about the negotiations for the purchase of the Rebels.
Quoting banking practices isn't going to help you in front of the committee
"commercial in confidence" does not mean you can mislead ... just saying
ohhh....the 6 mill....
put option agreement hmm. Sounds interesting