Ann: Response to ASX Query, page-30

its the shareholders who can make the application to the court.
Keybridge is just a shareholder in Molopo.
It's S236 Corps Act. Sec 236 - S242
http://www6.austlii.edu.au/cgi-bin/viewdoc/au/legis/cth/consol_act/ca2001172/s236.html

S/h can also apply to have LWP pay costs of any litigation.
The LWP situation imho is clearer than probably the Molopo case, because there are pretty clear breaches. And ASX has already raised a number of issues. Breaches of both the ASX Listing Rules and the Corps Act would have done damage to the coy.
An investigation by an independent party may discover all sorts of matters. eg Hallmark - was that a reality? Lab tests of proppants - what was behind all of that stuff? all those purported negotiations with parties in US - any basis for a commercial transaction there??
Tax Rebates??
Graphenera fiasco?
Lanstead deal??
Related party transactions/share issues?
what else??

There would be very real prospect of a successful application to court, being based on the real prospect of returning funds to LWP. That would benefit both the coy and shareholders.
Remember LWP does have Directors Liability insurance.