CHG's debt is mutually exclusive from GT's actions,conflict would have been managed with normal protocols like excluded from voting etc. at board level, reality is no other avenue of funding was available at the time and without this advance administrators would have arrived sooner. FH had no basis to repudiate their debt, money was advanced no one can deny that and being a separate legal entity no offset from GT's actions.
Suggest all shareholder approaches go direct to HNC President in China, local HNC staff don't have the power to do anything - head office is the way to go cc pollies & everyone you can think of.
The FMG case today makes justice for shareholders harder going forward, ASIC racked up 3 high profile losses in quick succession and will see them reluctant to pursue corporate wrong doing, their legal costs alone in these cases would be enough to cover all CMR's debt and recap!
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Not Held
