It would be a joke if RE as a secured creditor gets his $1.3 m...

It would be a joke if RE as a secured creditor gets his $1.3 m and then cops a fine of $220k. That's after they have bleed the company dry by taking consultancy fees before hand.

I hope the consultancy fees are deemed priority payments by the administrators and are clawed back.

Then RE should not get one cent and they all should be made to feel some hurt just as they have hurt others.

If this had been a case of market influences forcing the business into administration then so be it. How though, can there be announcements made to the market indicating great sales and fantastic cash and yet the company was insolvent.

What a joke. Makes me sick thinking about it.

I would love to know when they were intending to cash in their shares and run. There has to have been a game plan. No one in business runs it insolvently and spruiks the total opposite.

I really want to see what ASIC do here.