Apparently Bolton signed an agreement that allowed him to dump his Brisconnection units into a friend's $100 shelf company, if he elected to do so - six days before Bolton purchased his stake in Brisconnections
It appears he saw it as a low risk play as others on Hotcopper have suggested on previous occasions. Buy up a big stake, play around with it to see if you can squeeze any money out of it, then if nothing comes out of it, transfer the shares out of your name and into a specially set up shelf company.
I always thought Bolton could argue in some way that Brisconnections didn't give enough warning/notice regarding the liability to investors before they purchased the shares. Looks like that's out the window.
Getting interesting here.
BCS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
