CVI 0.00% 0.3¢ cvi energy corporation limited

Will forensic accountants can be called in if the company...

  1. 983 Posts.
    Will forensic accountants can be called in if the company folds?

    Only if someone funds it.Shareholders won't and ASIC will usually only do so after 6-12 months and then they will only kick in a small amount that typically pays the receivers outstandings and leaves nothing for further investigations.

    Closing Company 101 : if you are going to put your company into VA (Voluntary Administrattion) make sure that there is not enough money or assets left in it to fund and exhaustive forensic analysis of your activities.

    Slyth has already publically stated in his response to ASIC that CVI has access to $1.9M in funding from Global. Make no mistake about it, this will be a real fund that he can draw from. Global is in on this and wants to get any and all CVI assets for a song.

    CVI would be well advised to draw down quickly and will most certainly put up every single CVI asset as collateral at a massive discount to book/market. This collateral will then legally transfer to Global when CVI default on payment of the loan.

    Once that happens, then it is end game when the CVI cupboard is truly bare. I reckon about 2-3 mths from now. The alternative to this is that Slyth is negotiating a deal with a Receiver right now to make a deal for Global to buy all the assets from CVI for pennies just so the receiver has cash in the bank for themselves when they take over.

    The only last problem they have is the inherent value in the last remaining asset, the shell of the public company. Arguably as an asset this could be worth a few hundred thousand dollars. Perhaps just enough to feed a hungry pack of receivers for a little while. That should concern them.

    Dealing With Receivers 101 : Make sure you tie them up in enough circles and delays for them to eat thru about $1500 per hour in billing so that they run out of money quickly, this favours quick discounted settlements with the receiver thus eliminating any further investigations into ones' non-mercantile activities.

    Either way this goes remember that this has been planned and expected for years, these guys are way ahead of everyone here and ASIC, they have not just slipped up recenlty, all was planned and expected. If anything, they themselves are very likely surprised that they got this far with this latest scam.
 
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