Ex Gunns Ltd Chairman John Gay sentenced for insider trading as documentary about ‘Gunns20’ lawsuit receives ABC Commission The downfall of former Gunns chairman John Gay will be the backdrop of a new documentary commissioned by the ABC. Gay was today convicted of insider trading and was fined $50,000. Filmmaker Heidi Douglas was one of the 20 defendants sued by Gunns in a notorious long-running lawsuit that eventually helped to bring down the company, once one of Tasmania’s largest employers. Gunns spent more than $3 million in legal fees in an attempt to silence critics trying to protect Tasmania’s ancient forests from indiscriminate logging. The case eventually collapsed, but only after the original defendant’s had been dragged through the courts six years at great personal cost. Douglas’ film, ‘Defendant 5’ tells the story of her own struggle during this period which threatened to destroy her career and livelihood. “John Gay’s downfall is the tragic outcome of corporation that believed it was beyond the law,” says Douglas. “The Gunns20 trial was nothing more than a crude attempt to silence the company’s critics, and a glaring example of what happens when a business loses its social license to operate.” "The effects of Gay’s heavy handed pursuit of critics are not over,” warns Douglas. “Whilst he now has escaped prison for insider trading, many people affected by him, like myself, are still healing our wounds, and the wounds of a community torn about by a bitter and unproductive war on forests." Gunns Ltd dragged 20 defendants through courts from 2004 until 2010, while the ripple effect of fear spreading from the litigation silenced community dissent. Many see this precedent as a threat to freedom of speech in Australia on par with the McLibel case brought by McDonalds against health protesters in the UK and the new case by McDonalds against the ‘Tecoma8’ protesters in Victoria. Defendant 5 will screen on the ABC next year. For more information about the documentary please visit defendant5
Posted on: Fri, 23 Aug 2013 02:59:23 +0000
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