Had a look at the 2014 financials during lunch break.
IXR had a 51% stake in both Outback and Termite, the other joint venture party having 49%. This explains why the liquidator is not pursuing Outback or the other party as IXR meets the definition of control for consolidated accounting purposes and this is most likely all the liquidator needs to assert control under 588V of the Corps Act. However not a slam dunk.
All comes down to what point in time Termite is found to be insolvent.
DYOR IMO etc
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Had a look at the 2014 financials during lunch break. IXR had a...
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Open | High | Low | Value | Volume |
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25 | 16683102 | 0.006 |
73 | 27779840 | 0.005 |
24 | 11368214 | 0.004 |
16 | 16615664 | 0.003 |
Price($) | Vol. | No. |
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0.009 | 6479398 | 12 |
0.010 | 6583399 | 11 |
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