That's a good point. To use a chess analogy, they've just lost...

That's a good point. To use a chess analogy, they've just lost their queen and it's now pretty much game over for them. Will they still waste their time and limited resources to fight us on this front? I think they now know that most people that read these threads are now well aware of the issues at play and have completely lost faith in the ex-directors.

Now it's all going to be about the investment management agreement. The ex-directors will fight for the management agreement to either stay in place so that they can continue to extract management fees, or for the termination penalty for the management agreement to be paid. This is a fight that will most likely take place in a court room unless:
- ASIC decides to intervene and put an end to this farce.
- The Federal Court of Australia forces JBL to put up capital to cover court costs in the event they lose. The Federal Court has already made an order of this nature in relation to JBL's application against the NSX.
- The lawyers currently retained by JBL ask for fees to be paid in advance. A prudent law firm would be aware of JBL's current financial position and would demand some form of guarantee that they're going to be paid at the end of it all.