Ann: Receipt of Indicative Proposal, page-42

Hi Jack1960,

Thanks for your comment.

Firstly, you mentioned "genuine precedents from both old Companies Act and more recent Corporations Law". With due respect, focusing on "old" and "more recent" is no utility. Legal authorities provided show how common law dealing with 'shareholder oppression' developed, supported by statutory interpretations principles. In addition to "oppression" issues, directors are “to act honestly”. In Re The Bell Group Ltd (in liq);Ex parte Woodings [2015] WASC 88, [72] Pritchard J quotedPalmer J’s (at [325]) definition of ‘honesty’ as “without deceit or conscious impropriety, without intent to gain improperbenefit or advantage for himself, herself or for another, and withoutcarelessness or imprudence”. In ASICv Vines (2005) 65 NSWLR 281 Austin J defined “honesty” as meaning “without moral turpitude”. In ReVoets Investments Pty Ltd (1962) 79 WN (NSW) 670 at 677 Jacobs J said “any intent to deceive or defraud would show a lack of honesty.” In more recent cases the court held that adirector may breach his or her statutory duty of care and diligence if thecompany has breached the statute there was no need to prove that a director wasinvolved in contravention: e.g. MustangMarine Australia Services Pty Ltd [2014] NSWSC 1074per Brereton J. In ASIC v CitrofreshInternational Ltd (No 2)[1] the Federal Court held that in circumstances where a director let a company to make a statement found as being a misleading or deceptive conduct, a director breached their duty of care and diligence. In ASIC v FortescueMetals Group[2]his honor held that the decision not to disclose the true effect of the agreements cannot be described as a “business judgment” and breached the statutory obligations and could be misleading. The connection with misleading statements does not have to be direct and can include director’s announcement to ASX, website content[3]and oral statements about projected future performance[4].


Secondly, you stated "[a]s for the theme parks / movies bouncing back. I don't particularly buy any of the BS released from China. "
Looking at capital movements, China’s total social financing rose to a record high 5.15 trillion yuan ($732 billion), compared to just with 855 billion yuan in February, and nearly double the 3.14 trillion consensus. China's outstanding TSF was 262.24 trillion yuan or a record $37.3 trillion at the end of March, up 11.5% from a year earlier, and growing at double the rate of the overall economy.

Most spending is on entertainment, parks and zoos. Same was reported by Bloomberg on S Korea.

Instead of branding it "Wuhan" Virus it might also be referred to as "Nana-san-ichi Butai"due to it's probable origin. It is likely the research continued https://www.google.com.au/maps/place/Dugway+Proving+Ground/@40.2210369,-112.7465984,17z/data=!4m5!3m4!1s0x80b2a9a3554e1cd3:0xb7d90efe41999192!8m2!3d40.2210533!4d-112.7444097

[1] (2010) 77 ACSR 69.

[2] (2011) 190 FCR 364, [197] (Keane CJ).

[3]ASIC v Cyclone Magnetic Engines Inc & Ors (2009) 71 ACSR 1,38.

[4]Idylic Solutions Pty Ltd – ASIC v Hobbs [2012] NSWSC1276.

.I don't particularly buy any of the BS released from China