Ann: Offer Letter to Shareholders , page-21

ASIC won't act on JRV unless it blatantly obvious that something sinister is going on and they know they can prove it / win the battle. ASIC have had so much bad publicity lately with their inability to prosecute crooks, that they are unlikely to risk defeat against the minnow that is JRV. Besides which, ASIC would be weighing up the cost effectiveness of the JRV case, it is such a small company that it probably isn't worth their efforts. Especially when there is the like of Babcock and Brown and the billions of dollars lost by its shareholders.

If you don't like what is going on, I hate to say it, but selling out is going to be your best option. The game is, to our displeasure, utterly rigged in DPs favour. The most you can hope for is that the company goes bust and he and his families shares lose all value. Selling will help to achieve this, particularly at the moment when they are trying to raise funds at a premium to the market.