On the evening of 6 October 2002, ‘Mr Fix-It’, Peter Flack, who was a partner in Coronation FRM, a firm of corporate turnaround specialists, hurried back to his hotel after dinner. It was the night before his testimony at the hearing into the collapse of LeisureNet, a company with the majority of its interests in the fitness industry, and he wanted to prepare properly for the next day. LeisureNet had been placed under provisional liquidation exactly two years previously, with contingent liabilities of almost R1 billion. Flack, in his capacity at the time as acting CEO, had