15-410MR ASIC obtains interim court orders against director of Continental Coal Limited
Following an ASIC application, the Federal Court in Perth has made interim asset preservation orders by consent of the parties against Peter Neil Landau, a Western Australia-based director of ASX-listed company Continental Coal Limited. Mr Landau has consented to similar Court orders against two companies of which he is sole director, OKAP Ventures Pty Ltd and Doull Holdings Pty Ltd.
ASIC obtained these orders in connection with its ongoing investigation into matters including the use of investor's subscription moneys at a time when they were required by law to be held on trust. ASIC sought interim orders pending the outcome of its investigation, with the aim of preserving the interests of investors. Mr Landau will have an opportunity to present his views on the matter to the Federal Court in the New Year.
The orders were originally made by the Court in Mr Landau's absence on 8 December 2015, followed by the making of further orders with Mr Landau's consent on 22 December 2015.
So here you go. ASIC and the courts have frozen Okap and Doull's assets and an investigation and court case aimed at The cap'en gets under way.
This would relate to the 2013 capital raising at CCC (while suspended for a year) were Okap charged $1.3m in costs. Komodo (okap) as sudunderwritter.
Money was taken and then the CR withdrawn! (Despite two underwritters)
One poster on the CCC thread waited over a year to get their money back through ASIC.
Given both Okap and Doull have both asset freezes on them. You can bet this CR money went to Okap fees.
Okap are under investigation and are the group who gathers together the scurvy SI's. I would suggest that this maybe the real reason no money has been raised and Brewer has been rushed in.
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