asx knocks back octaviar accounts

Source - The Australian Financial Review

Shares in Australian-listed Octaviar will not be allowed to resume trading following the release of accounts showing a $A221 million net loss. The Australian Securities Exchange has determined that, according to listing rule 12.2 of the Corporations Act 2001, Octaviar does not warrant adequate financial conditions for trading given the December 2007 results. A number of unsecured creditors have been named as a result of the release of the accounts, including the Australian Taxation Office.


Nice of them to step in now!