The following is just what has been sent to Mr Greg Yanco, the CEO of ASIC:-DECLARATION OF KNOWLEDGE OF PRIOR ATTEMPTED BREACHES OF LAW and CONFLICTING CIRCUMSTANCE between ASIC, (Witham) and NAIF, (Collins).
Mr Greg Yanco
CEO
ASIC
Yesterday I made a post on HotCopper. It is in an attached file.
I pointed out the disconcerting inability of individuals and organizations to answer a crucial question concerning the intended transfer of the secretive "SECRET" $610 million loan by NAIF to a foreign entity.
In the post I made note of NAIF not, apparently, obtaining an opinion from the Solicitor-General about the illegal proposition by Skip Capital to take over Genex Power Ltd in 2022.
It was pointed out that your Mr Peter Witham is fully cognizant of what went on over a period of about five months, from July2022, culminating in Skip Capital withdrawing its bid. Now, in this JPGA Partners Pty Ltd bid Mr Witham has given no indication that he would call for an opinion from the Solicitor-General or seek the opinions of legal representatives of J - Power or Genex . It seems ASIC's position is to ignore all that has come before it; even when it seems evident in Mr Justice Black has not been fully briefed by Dooley and Williamson - Noble.
HAS ASIC BECOME A PARTY TO CASE 2024/00188463 IN THE NSW SUPREME COURT AND, IF NOT, WHY NOT?
During the course of my representations about the Skip Capital efforts to defy the Northern Australia Infrastructure Facility Act 2016, the very limited communication I could generate from NAIF came from its CEO, Mr Craig Doyle. At no time was the name of the Chief Legal Officer, Mr Chris Collins mentioned.
Yesterday I discovered, from LinkedIn, Mr Collins commenced with NAIF in April, 2022. In other words Mr Collins, like Mr Witham, has been fully involved in the two matters concerning NAIF and Genex Power Ltd which have raised serious issues of legallty, (POSSIBLE BREACHES OF LAW). A third prominent name associated with the Skip Capital proposition and now the seemingly legally flawed proposal from JPGA Partners Pty Ltds is Mr Simon Kidston.
See this link for details of Mr Collins's time with NAIF:-
https://www.linkedin.com/in/chriscollins23/
ASIC faces very serious credibility issues; just reading the recently AI generated documents provides confirmation of the seriousness of the situation..
The issue, in the broad sense, and the Transaction Booklet in particular, could have been resolved weeks ago if Messrs Witham and Collins had agreed for an opinion to be obtained from the Solicitor-General, Dr Stephen Donaghue KC. Weren't they, as Commonwealth employees, both duty bound to do so?
That the two Commonwealth bodies which employ Messrs Witham and Collins have not sought an opinion from the Solicitor-General calls into question the involvement of Messrs Witham and Collins's when they have both dealt with the 2022 Skip Capital proposal and now this 2024 highly questionable takeover bid from JPGA Partners Pty Ltd .
When asked by Mr David Webster, First Assistant Secretary, Commercial Investments Division, Department of Finance Mr Collins must have responded along the lines, "NAIF has mechanisms within the loan to appropriately deal with changes in control, should they occur".
It begs the question; are they the same mechanisms it was proposed to use in the Skip Capital instance?
In other words, Mr Webster conveyed to me that Mr Collins had not addressed the issue of the loan being transferred to the foreign entity, JPGA Partners Pty Ltd. In an email to me, dated 1 May 2024, which was copied to Mr Witham, Mr Collins avoided the foreign ownership issue without any apparent consideration of the Solicitor-General opinion I had suggested to him.
Given ASIC won't answer the question posed, once again, in the HotCopper post yesterday, an opinion from the Solicitor-General has the potential to result in mutual embarrassment for Messrs Collins and Witham?
It is well beyond time for ASIC to do what Minister Gallagher and Jones have asked it to do, considering the very serious issue that has been raised. Can NAIF transfer the $610 million concessional loan from Genex Power Ltd to the overseas corporation, JPGA Pty Ltd and under what legislative, regulatory or ministerial authority is it intending to do so?
I have cc'd this email to Senator O'Neill.
Yours sincerely
Howard Patrick
DECLARATION OF KNOWLEDGE OF PRIOR ATTEMPTED BREACHES OF LAW and CONFLICTING CIRCUMSTANCE between ASIC, (Witham) and NAIF, (Collins).
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Howard Patrick<[email protected]>
11:52 AM (2 minutes ago)
The above has been copied to Senator Deborah O'Neill.
The Joint Committee Senator O'Nell chairs, Corporations and Financial Services, is meeting tomorrow.
