It also looks like the ASQA AAT case against PP has been put on...

It also looks like the ASQA AAT case against PP has been put on hold until after the outcome of ACCC case against PP. In other words, they still have an opportunity to get their RTO status back for PP. I presume that they did not get a stay enabling them to operate as an RTO while the case was proceeding. In any event they did not get selected to operate under the new VET Student Loans system and without it they have no business model.

The sniff test on all of these providers is quite clear. If they are unable to operate under a fee of service model then chances are the government wasn't getting value for money and vulnerable people were being prayed upon. Nearly every single company that has been prosecuted under the Vet Fee Help debacle has gone into liquidation once the government money was stripped away. Normal consumers simply weren't prepared to pay the money for the service that was being offered. PP was no different, it stopped operating once the funding was pulled away.

In my opinion, Site saw and opportunity for a cash grab and took it by buying a provider that was already established in the system. Like many of their acquisitions, I think they paid too much. Once the scheme came under scrutiny I think they started to realize that the tap was going to be turned off and their investment would turn out to be a dud. This is where the ACCC alleges that safeguards were systematically removed to prop up returns at the expense of vulnerable people and the taxpayer.

In regards to the $30 million, it would be many years in court to recover that money from the government even if they were successful in all of these cases.

The overseas business and the land deal seems solid but the hangover of these past issues is a major risk factor.