any liquidator worth their salt, would alert the bank and authority the very same day they get appointed.
hopefully Ferrier Hodgson have alerted the Chinese bank, so they can keep an eye out for any large suspicious transfer. Whilst awaiting the legal paperwork to catch up.
it does look as if the company is still trading in China.
over the past 12 months 2 new changes that improve the odd of us Aussie Shareholders getting our money back.
- September last year. The Australian Federal Police and their Chinese counterpart ink a deal to pursue financial fugitive… technically, what this means is that if shareholders bring a court case toward the Chinese directors and the Australian court decide that they have a case to answer, then the Australian Federal police should be able to call on their Chinese counterpart to deliver the suspect to Australia to stand trial.
Read it here.
https://www.theaustralian.com.au/national-affairs/afp-chinese-police-sign-deal-over-pursuit-of-financial-fugitives/news-story/37a77fba778140031c66581e44a34927
- China is starting to allow foreigner to invest directly into the country.. what this means: their financial law should follow to allow foreigners to sue local management and repatriate money outside the country
Read it here
https://www.cnbc.com/2018/04/11/china-to-allow-more-foreign-investment-in-financial-sector-by-year-end.html
all is not lost my friends, we have a long hard road ahead of us. Who knows, we might end up with 8 cents per share 24 months from now.
