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| Friday the Thirteenth of May, 1983! This was the inauspicious day when Australia's first and most respected trustee company dramatically collapsed. Clients, creditors and shareholders panicked as shock waves reverberated through financial centres. Administrators were appointed to quantify the deficiencies then, more ominously, the liquidaters took over. The Trustees Executors and Agency Limited was considered to be beyond reprieve.
What really happened? What was the board of 'blue-blood' directors doing to earn its high fees and benefits? Where were the auditors and other external watchdogs? Who was ultimately responsible? This book reveals some of the reasons for the collapse and the final, unsatisfactory outcome.
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