Plus the only breach that has been firmly established has been known about by the ASX and AISC for about 8 years, what an absolute disgrace on their parts. If this company gets ruined in this fashion I’ll be writing to the Federal Minister to ask him to investigate why these two organisations let this situation go on so long.
As for the other determination made by this non-judicial panel they openly admit in there own determination that they can’t establish the accuarcy of the information provided to them so how on earth are they able to establish that any corporation law has been broken let alone any law for that matter. In what I regard as a real judicial system (ie a court of law) a judge or jury needs to make a determination on facts and the balance of evidence, with the starting point being the establishment the facts as can be best determined through fair and transparent judicial processes, ie discovery processes under established court rules and the right to challenge evidence etc etc.
This panel wrapped this whole thing up in under a month. There is no real court in Australia that moves this fast. Typically applicants and respondents have procedural rights and a case involving the dismantling of a 30 year old established company would involve months and months, if not years of legal toing and froing.
In this case it seems more like an inquisition as mentioned before and some people on these threads would make excellent inquisitors. This is not justice in any sense of the word from what I can see of it. Esh
