Confidential Due Diligence Report —FORUMS, LLC AND DARREN K. INDYKE PUBLICATIONS Copyright 2005 Financial Timms Information All rights reserved Global News Wire - Asia Africa Intelligence Wire Copyright 2005 KaSturl 4 Sons Ltd (KSL) Business Line Juno 23, 2005 LENGTH: 912 words HEADLINE: THE BOSS WHO DISAPPEARED FROM HIS YACHT BODY: IN CORPORATE governance there are not always 'right' and 'wrong' answers, writes Robert wearing in Cases in Corporate Governance from Sage (www.indiasage.com). The book compiles stories of nine companies that tripped on the governance wire, including Enron and Barings, Parmalat and Eurotunnel, worldCom and BCCI. Don't expect easy solutions to the problems identified in the case studies, warns the author about the book. Sone common themes are outlined in the cases presented. For example, "charismatic and powerful business leaders, companies experiencing rapid and unsustainable rates of growth and unnecessarily complicated organisation". The purpose of the book, as Wearing explains is, "to provide some insight into why corporate governance can break down and to look at what might be done to remedy such situations". The author cites T. Clarke's view that there will never be a 'perfect' system of corporate governance. "It is important that the most obvious abuses will be outlawed, and loopholes closed, but the ingenuity of self-interest will lead to the devising of new schemes to evade accountability." Wearing highlights the need for a trade-off between too much regulation that can inhibit wealth creation and too little regulation that can lead to abuses. "Corporate governance regulation can claim to be successful if it encourages a business environment where warning signals are picked up early and appropriate action is taken quickly by the regulators." The first case is on Robert Maxwell and it opens with his disappearance from his yacht, Lady Ohlmlalnot Maxwell used four methods to misappropriate funds from the