Ann: Update on Sargon receivable, page-8

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19/04/20

06:50

Post #: 44122680
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Originally posted by LateralThinker: ↑

No, just proves that OVH did NOT register its security on PPSR. There is very little in the way of case law for vendor lien vs PPSR. This is going to make the sale very complicated. A purchaser has to weigh up whether it pays the liquidators and STILL has OVH with a vendor lien claim against the asset.......all the while Diversa and CCSL will continue to bleed clients.

That OVH advised the market that it had registered its security and NOW states that the security is an unpaid vendor lien is very disappointing and, indeed, grounds for the ASX to send the company a query. Despite the fact that it's not in all shareholders' interests, I now expect a class action. There are enough out there who will take the position that OVH statements in Feb and March were misleading

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In fact, they have been very open. In early stages they said had security but not state what it was. As it unfolded it was clear there were 2 assets they did secure and take possession of: SEQ shares and Morrison.

Nothing misleading at all. Seems u just hoped for more.

OVH Price at posting: 24.0¢ Sentiment: None Disclosure: Not Held
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Ann: Update on Sargon receivable, page-8

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