Very sad, but true. The Administrator's report hinted that Ozjet may have been trading insolvently since June 2006, but as the deed of arrangement has been accepted for Strategic to buy Ozjet, as I understand it, no legal action can be taken now against the directors of Ozjet.
So yet again, the bad guys get away scot free.
Believe the carve up sees the staff getting $800k, NL (God bless Him) $550k, and then the residual to be distributed between the unsecured creditors at between 5 and 10 cents in the $.