Ann: ASX Letter - Proposed Removal from Official List, page-110

ASX has also carefully considered whether it can and should simply give a direction under listing rule 18.8that all of the relevant transactions be reversed. However, ASX is not in a position to determine whether thiswould be a good or a bad outcome for HDY and its shareholders and therefore is reluctant to do so

Why reluctant, yes reversal of these dodgy transactions would benefit the shareholders if you are so concerned about them