15-410MR ASIC obtains interim court orders against director of Continental Coal Limited
Following an ASIC application, the Federal Court in Perth has made interim asset preservation orders by consent of the parties against Peter Neil Landau, a Western Australia-based director of ASX-listed company Continental Coal Limited. Mr Landau has consented to similar Court orders against two companies of which he is sole director, OKAP Ventures Pty Ltd and Doull Holdings Pty Ltd.
ASIC obtained these orders in connection with its ongoing investigation into matters including the use of investor's subscription moneys at a time when they were required by law to be held on trust.
On further read. This would be the 2013 capital raising the cap'en did at CCC.
Money was taken with Komodo as the sub underwriter. Okap charged $1.3m.
The Capital raising. (Underwritter and sub underwritter and all) was then withdrawn.
A poster on the CCC thread waited over a year to get their money back through ASIC.
You can bet that these funds went to settle Okap fees and would seem to be why both Okap and Doull have been frozen as well!
One would think that these properties would fall under this asset freeze.
I am interested in the statement that the cap'en is the sole director of Okap when Eastman is also listed.
Rates. It seems ASIC are a alleging the cap'en has not followed the law.
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