Rumour has it the Director Norman Anderson Bell (one of his six...

Rumour has it the Director Norman Anderson Bell (one of his six names) is standing to benefit from the company going into admnistration and that the company did receive an offer from an external party to see the company survive, yet there was nothing in it for the Director.

The only asset that the company has (a retirement village in Toowoomba) will be sold as part of the liquidation process most likely to one or both of Ron Hopkins and Stuart McDougal - two LVL directors who already are major shareholders in the Toowoomba asset. Ron Hopkin's private company is the one managing the asset, he and Norman are the most questionable with Stuart and Stan Manning getting taken along with the ride.

Clear case of Directors acting in their own best interests. What have the Directors ever done for the company. Have a look at past announcements of the Toowoomba asset which announce that the company has a 30% share in 100 units. Since the Directors have advised that the 30% is only in 50 units. Have another look at the announcements behind which LVL paid close to $2m for that asset via share issue to Ron Hopkin's company.

I've already complained to ASIC and ASX and suggest others do as well.