There are so many things wrong with this post. You legally...

There are so many things wrong with this post. You legally cannot just sell your assets for $1 or for a grossly undervalued amount in order to run from debts or screw over minority shareholders.

If he truly was under financial burden he is better of building the SP and selling of parts of his holdings to cover his debts. However I believe the AFR article covers it that he has repaid the debts he owed to the company by not drawing his dividend for that year.

If he has any other personal financial problems, which is complete wild speculation then the worst that can happen is he will sell his holdings down after escrow period. None of this him selling the assets for $1 rubbish.