CTO investers should note the debt to PEI Ltd (in liquidation) & ponder why the UK liquidator is not doing much about that... matters in the US are moving inexorably toward a victory for Martin A Armstrong & some tough times for some insolvency sc*m worldwide.
PEI is probably solvent with substantial assets to fund litigation. The re-establishment of shaeholder control over worldwide assets could lead to problems in a few other quarters as well..... I can think of at least two public company situations in Australia that will come under intense scrutiny. One of them is delisting ASX & Exec Dirs are offshore whilst with CTO Lynch jetskis in Dubai.. MAA had a lot of mid-East clients so Dubai won't present any probs.
CTO Price at posting:
0.0¢ Sentiment: LT Sell Disclosure: Held
