vcat trial update

I haven't seen anything in the media about PPN's hearing currently underway in VCAT. The hearing is open to the public so myself and a few other minority shareholders have attended on most of the sitting days. So far no media have been seen in the courtroom and the usual TV cameras on the doorsteps seeking footage of John Trimble have been absent.

You will recall that in the original VCAT order of 4 May 2011, the BAR20 liquor licence was cancelled and directors Trimble & Micovski were each suspended for 18 months. This decision was overturned in the Supreme Court and sent back to VCAT for a new trial. This new trial commenced on 23 August and it was estimated to run for 10 sitting days. By agreement, the number of witnesses to be called is a lot less than expected and it now looks like the trial will finish either on time or ahead of time.

I wouldn't like to try to predict the outcome but PPN has a brilliant barrister in John Ribbands who seems to have a mind like a super computer. Unfortunately, the new barrister for the police, their fourth since last year, is also brilliant.

Historically Showgirls BAR20 was a notorious trouble spot in King St but it is a very different place these days with a new manager, staff and new effective crowd controllers. With a bit of luck PPN can come out of this VCAT trial with substantial fines rather than the cancellation of its liquor licence.

Looking forward, PPN has two profitable recession proof sources of income in BAR20 and rent from the Daily Planet building but it needs a strong new board of 5 to 7 directors to give the company direction and share the bounty amongst all its shareholders.

See you all at the PPN AGM on Friday to be held at BAR20, formerly known as "the notorious BAR20"