Very rarely do I post anything on these sites unfortunately, now...

Very rarely do I post anything on these sites unfortunately, now is one of those rare times. I would simply like to state that, all too often people feel the need to elevate their own status, by portraying themselves as 'experts'. Their statements are often delivered in a manner that indicates, a well researched and in turn, well thought out process. Unfortunately all too often that is not the case. The small joy that I felt when I first read the quotes from the Corporations Act, was short lived. The reality is that the facts, as presented are incorrect. A provisional liquidator has not been appointed. ASIC's release states:

ASIC has applied for Mr John Lindholm, of Ferrier Hodgson, Melbourne, to be appointed as liquidator and, pending hearing of the winding up application, as provisional liquidator of the company, to provide a report to the court and to ASIC on the affairs of the company.
The matter has been listed for hearing in the Supreme Court of Victoria in Melbourne on 29 May 2015.

As a rational person I can accept that these types of mistakes and oversights are often made. As a shareholder of PPN, I don't like to accept the apparent disruption and unnecessary costs that the company may endure from any misguided directors. I find it equally objectionable when the disruption and the unnecessary costs stem from some of the supposedly more informed and more well meaning shareholders.