This will provide some context https://www.accc.gov.au/media-release/court-finds-captain-cook-college-acted-unconscionably-and-misled-students#:~:text=The%20Federal%20Court%20has%20found,diploma%20courses%20following%20contested%20proceedings.
The ~$28m contract claim that Site has against he commonwealth for VET training seems highly unlikely to be awarded, and in fact based on what was in the above article, Site could face penalties in relation to their conduct (well conduct of their subsidiary and it seems their COO).
Probably a good thing that this is coming up now.....best to recapitalise once these historical issues are sorted else shareholders SPP funds may be used to pay for penalties as a result of activities and conduct 7-8 yrs ago
SIT Price at posting:
0.4¢ Sentiment: None Disclosure: Held
