The term "commercial in confidence" was used in replies to direct questions about the supply contract, and it was obsfucation of the fact that there simply was never a supply contract in place. Which is what we should have all been told up front. And they didn't get the final chip from Realtek unitl May last year, which means the OEM"s they used to pump us with were not possible, because they didn't have the chip or a supply contract. They fed us BS in the lead up to the Retail Entitlement Offer in November, even going to the 2024 CES and flogging some prototype around, wasting everyones time and money.
KPMG have been working with and advising Miller, Edwardes etc, from around March/April last year.
The only reason the Strategic Review was funded, was because the people who funded it knew there was someone who wanted to buy the technology. And thats the same reason the same group have funded a very lengthy VA.
Which is the same core group who are listed as directors of Errechio, the SPV, thats going to employ Miller again. And is the reason why the same core group of Orrechio backers were not disclosed.
Where was KPMG in all of this?
A quote from the first page of the website below, from the Tricksters post is below....
View attachment 6893259Read the recommended case studies on the Minter Ellison website. in the post below.
Quoting
@the trickster post below .....
https://hotcopper.com.au/threads/voluntary-administrators’-supplementary-report.8450214/page-265?post_id=78325387"Here is a link to a Minter Ellison opinion regarding DOCA's and how they can be set aside by a court
Not case 2 and 3 has some simiarity to what has transpired here
Case 2, clearly Realtek was prejudiced in this process being by far the biggest stakeholder
Case 3, some similarity in that Orrechio is a murky SPV where its backers are not disclosed and Miller ends up with continuing employment. In what line of business does one re-employ the guy who sends a company to the wall twice and his only legacy is one of failure
I dont know but I would imagine Realtek will not take this lying down and we can expect legal action"
https://www.minterellison.com/articles/navigating-deeds-of-company-arrangement-trends
