"The Company confirms that the statutory demand has been issued to the CleanTech Energy Pty Ltd entity and not Delorean Corporation Ltd or its other core operating bioenergy plant
project development and construction subsidiaries."
Oh well, that changes everything (sarcasm). They just need to tell the relevant government body that CleanTech Energy is only a 100% owned subsidiary, and isn't considered part of their core business going forward. Problem solved. Off the hook.
"Delorean Corporation’s core business is the development, construction, ownership and
operation of bioenergy infrastructure in Australia."
In fact, there currently is no "core business". Nothing is in construction, nor owned, nor being operated. My core business is being a member of the royal household but I'm yet to marry into the Windsor family. Still working on it! It's on my bucket list.
"This liability has previously been reported in the Delorean group accounts and was not an
unknown liability." Somehow this doesn't make the incompetence better. It just makes it worse.
No wonder Palisade Impact have been reluctant to go into business with DEL.
(20min delay)