RamPage01 Even if PPN were to replace its directors with competent people, hired 500 ex police officers as bouncers and breathalized everyone on the premises at 10 minute intervals, I doubt whether the BAR20 liquor licence would ever be restored.
BAR20 is not the only licenced club in King St, but powerful forces are at work to clear King St to enable redevelopment of the area. The other King St clubs will now be targeted and may fall like dominos. Those pulling the strings want up market restaurants to replace the strip clubs.
PPN's minority shareholders are also suffering because its directors failed to understand the strict requirements of the Liquor Control Reform Act 1998.
The VCAT Senior Member is reported as saying: "Victorial Civil and Administrative Tribunal senior member Robert Davis said it was clear the management of Bar 20 did not believe they had done anything wrong. "They are unable to see how their management could have improved the situation," he said. "They have taken the course of blaming others, in particular the public themselves and crowd controllers." Mr Davis said Bar 20's managers had put the safety of people in the venue and the surrounding area at risk. "A strong message must be sent to other licensed operators," he said....."
The PPN Board needs to call an Extraordinary General meeting [EGM] immediately and take responsibility for 7 years of failed projects.
If the Board fails to call an EGM, the minority shareholders have sufficient voting power to demand one.
The minority shareholders may also have a case to take legal action against the PPN directors.
Perhaps a new PPN Board could relaunch BAR20 as a respectable up market restaurant and get out of the sex industry altogether.
It is time for PPN to be reborn with a new competent Board and head in a new direction.
PPN Price at posting:
20.5¢ Sentiment: Hold Disclosure: Held