Business
No Blue Sky accountability in Aston’s case – The Australian Financial Review
Justice Michael Lee said the nature of Blue Sky’s demise warranted the focus and comment of Joe Aston but the judge found Aston went too far in his comments on…
The truly unfortunate investors in this investment conglomerate were those who believed they were undertaking prudent risk management by building a diverse portfolio of Blue Sky products. This was a pathway to losing their life savings.
Blue Skys corporate governance was woeful. But when the Australian Securities and Investments Commission investigated what happened it found nothing of note. ASIC chose not to pursue the former directors or management.
As with so many corporate collapses, aggrieved…
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