I don't think an audit could have been done unless they have paid off their debts.
However you must go to ASIC if you have not done so yet as you cannot do a class action unless you have exhausted all other avenues. I think you only need about 7-10 shareholders who have suffered a loss to commence a class action. We have rights under the Corporations Act which are enforced by ASIC and when that fails we have rights under common law, hence the class action. I also think the courts ( common law) may be more willing than in the past to stand up to corrupt directors. This is since the Royal Commission and after February/March depending on what comes out they may be directed to enforce these common laws. The timing could be in our favour
Many of us have already gone to ASIC and the more the merrier
CTL Price at posting:
0.9¢ Sentiment: None Disclosure: Held
(20min delay)
