G79 0.00% 2.7¢ goldoz limited

Ann: Notice to set Arena Investors statutory demand aside, page-3

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  1. 277 Posts.
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    lodged on 19th in WA



    The Company has applied to set aside the statutory demand  on the basis that:
    1. It is defective by reason of its failure to separately particularise the interest,
    principal and other components comprising the total of Arena’s claimed debt;


    2. There is a genuine dispute about whether the amounts claimed by Arena
    are due and payable. In particular , the Company contends that it is not liable
    to repay principal nor any termination payment claimed by Arena, due to the
    fact that Arena breached an essential condition of the Unsecured
    Convertible Note Deed by failing to pay Tranche 2B to the Company, in the
    amount of $1.805m cash;


    3. The Company has an offsetting claim, being damages for Arena’s breach and
    unconscionable conduct. The Company’s preliminary estimate of its damages is
    approximately $17.03m.



    Im guessing Mr Ching is no ding a ling. IMHO


 
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