Ann: Scheme of arrangement - Reasons for Judgment, page-17

Just had a brief read and it appears that expert opinion states any judgement obtained by ASIC against GSW won't be enforceable if they exist only in Canada.

Id assume that would also relate to the class action in some way?

If so, essentially GSW would be out of reach from any ASIC or CA action should it relocate to Canada.

I don't think the Treasurer will approve of this. ASIC is feeble enough, if companies realize that if they get in strife they can avoid any action by moving elsewhere, then ASIC becomes even weaker.

The more I read about GSW, the more I believe that the BoD look after themselves first. There's a clear pattern of behavior. IMO this move has nothing to do with aligning with their "target" market and all about saving their skin so they can keep the gravy train running.

Frydenberg will block any move IMO.