ASIC are aware of this. On Wednesday the Administrator lodged a form 531 'declaration of relevant relationships' in relation to Adam Shepherd. I've sighted the document myself.
They declare that the appointment of them as the administrator was due to a referral from Adam Shepherd. They say it's common practice in the industry and no fees were paid for the referral. They say they haven't dealt with Adam since about 5 years ago and in their opinion the relationship will not impact on the independence of the administrator in the process.
Make of that what you will. Could just be form filling to tick a box.
BIG Price at posting:
$2.22 Sentiment: Hold Disclosure: Held
