This is a further post concerning the bid by JPGA Partners Pty...

This is a further post concerning the bid by JPGA Partners Pty Ltd to acquire Genex Power Ltd.

The situation now is that the parties listed below, despite numerous invitations to do so, have not been able and/or willing to provide an answer to the following question:-

“Under what legislative, regulatory or ministerial authority does NAIF intend to transfer the taxpayer funded $610 million concessional loan from Genex Power Ltd to the foreign corporation J - Power, (and associated legal entities)?”.

ASIC

NAIF - Mr Chris Collins; {Government Lawyer of the Year 2024}

Genex Power Ltd

FIRB

GTLaw - John Williamson-Noble

MinterEllison -Gerard Dooley

Australian Government Solicitor's Office

Ministers Gallagher and King - jointly responsible for NAIF

Attorney-General Dreyfus

For me this is so reminiscent of the attempt, in 2022, by the entity, Skip Capital’s, to take over Genex Power Ltd and by doing so gain personal benefit from the $610 million NAIF loan.

NAIF never revealed, in 2022, if it obtained a legal opinion from the Solicitor-General.

The partners at the legal firm, Allens, Charles Ashton and Tom Story, who provided legal advice to Skip Capital, refused to reveal why they had, one can only presume, given Skip Capital advice that what was proposed was legal.

In this instance ASIC has, seemingly, sought to sweep a Report of Misconduct by parties associated with Genex Power Ltd and J - Power under the carpet and, since deciding to do that, has, as far as Genex shareholders can only surmise, turned a blind eye to the legal issues inherent in the above question.

The TRANSACTION BOOKLET is a flawed document and ASIC should formally bring that to the attention of NSW Supreme Court’s, Mr Justice Black.

This post has been emailed to GTLaw, (Williamson-Noble) and MinterEllison, (Dooley) asking if they have provided to ASIC or if ASIC has requested from them the legal advice they provided to their respective clients that the transfer of the secretive “SECRET $610 million concessional loan from Genex Power Ltd to JPGA Partners Pty Ltd was compliant with legislative, regulatory and/or ministerial authorities.

This post has also been emailed to ASIC’s Mr Peter Witham, Senior Manager, Misconduct & Breach Reporting, because he is fully aware of the events of 2022. Mr Witham knows the real reasons the Skip Capital bid was withdrawn and what actions were taken by those with regulatory power, (ASIC), and those with other power/influence, ( including the two ministers responsible for the Northern Australia Infrastructure Facility Act 2016, Ministers King and Gallagher), to ensure that happened, (with the consequence that Skip Capital holds 19.99% of Genex’s shares).

Also copied into the email is Alexandra Whitby, at GTLaw, who may or may not pass it on, in a way accepted by the NSW Supreme Court, to Mr Justice Black.

I imagine I am not the only shareholder concerned that Genex Power Ltd could become a company controlled and manipulated by two entities, JPGA Partners Pty Ltd and Skip Capital, if this skulduggery is allowed, by ASIC, to proceed?