I would think that the retail shareholders would be well advised...

I would think that the retail shareholders would be well advised to put in a submission (or start the preparation of their homework) to the Takeovers Panel for a declaration of unacceptable circumstances.

It seems that both ASIC and the ASX aren't too interested or competent, or able to do anything about the activities of CDU so if there are any CDU shareholders left here, and they would all be underwater/trapped in this at the moment then it couldn't hurt to maybe a look at approaching the Takeovers Panel might bring them some relief or certainty or at least make CDU management respond to the Takeovers Panel.

Just because its called The Takeovers Panel dosen't mean that its going to ignore any illegal/dodgy behaviour it uncovers - as the shareholders of TBR recently found out - they have a fairly wide investigative powers if there is a suspicion of funny business.