Chris Scott's suggestion that 'otherwise the receivers would have been put in' is a nonsense. Wellington are simply defacto receivers who rape and pillage - and collect. Make no mistake.
A public examination should be initiated by the current external administrators of Octaviar - section 597 of the Corporations Act allows ASIC to participate. Will ASIC require this and if not why not?
extract fron s597
CORPORATIONS ACT 2001 - SECT 597
Conduct of examination
(4) An examination is to be held in public except to such extent (if any) as the Court considers that, by reason of special circumstances, it is desirable to hold the examination in private.
(5A) Any of the following may take part in an examination:
(a) ASIC;
(b) any other eligible applicant in relation to the corporation;
and for that purpose may be represented by a lawyer or by an agent authorised in writing for the purpose.
OCV
octaviar limited
