IMOwe need an injunction from the court to stop the shareholder meeting and vote.
We need to explore a class action against MN in Australia.
MN's obligation is to creditors only, not shareholders. However, MN would have a fiduciary duty to identify all the assets and liabilities of the Company and ensure they are dealt with appropriately.
RES, being an Aussie co is 100%owner of an asset located overseas.
About 25% of that assets was to go to the South African Co (Fair wings.... or whatever they called). But fairwings never paid for it. So it's still a 100%RES asset. The SA administrators should have no control over it.
MN would also be responsible for ensuring proper coordination with the SA administrators so that MN could meet their obligations under Aust law.
MN is the only existing viable entity that we can hold accountable. They will have insurance to cover it. It may also motivate them to act in better way
The RES office is long gone and anyone In South Africa who should be responsible, is untouchable.
