Don't forget guys, the 700 or 800 million debt that is owed to creditors is still there, it did not disappear when they transfered youre shares. Its still 100% there.
Would you really buy shares in a company with this much debt?
Whoever got this 444ga bill passed in the senate was an absolute genius. It means the creditors and directors can sit around on their hands,on their yachts and holiday homes at the beach in W.A safe in the fact that if the company goes belly up its no problem.There is no threat of liquidation,we can just start all over again with a share transfer. This has set a very,very dangerous precedent in my eyes and is the reason I will never buy another share on the asx until this rule is removed completely.
Ann: MEY: Highly Successful U-pgrade Testwork on Langer Heinrich, page-6
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