GULF LIVESTOCK 1 OWNER LIKELY INSOLVENT WHEN SHIP SUNK

An ABC investigation has revealed the owner of a ship that sank in a typhoon two years ago, killing 41 people, had repeated safety concerns flagged by maritime authorities and may have been operating while insolvent, according to auditors. However for all the investigation, there is still no official report available from Panama into the tragedy and still no answers (despite the Chief Officer surviving!) as to why the captain decided to run the typhoon whilst all others ships sheltered. The  tragedy for the family of the sailors, stockmen and the Australian vet is that they still have no explanations..just loss and more airing of the typically dirty laundry of this filthy trade.

The photos reveal a rusty old ship. The videos reveal it was no better condition onboard than externally. A Deloitte financial report in late September 2020, shows the company was likely in no better shape than the ship and may have been insolvent at the time of the tragedy. And all this is from the business that our farmers, Ag Depts and governments spruik as the being the best regulated in the world. Sure it is...but clearly the bar hasnt been set very high.