15-410MR ASIC obtains interim court orders against director of Continental Coal Limited
Following an ASIC application, the Federal Court in Perth has made interim asset preservation orders by consent of the parties against Peter Neil Landau, a Western Australia-based director of ASX-listed company Continental Coal Limited. Mr Landau has consented to similar Court orders against two companies of which he is sole director, OKAP Ventures Pty Ltd and Doull Holdings Pty Ltd.
ASIC obtained these orders in connection with its ongoing investigation into matters including the use of investor's subscription moneys at a time when they were required by law to be held on trust.
So this has to be the so called capital raising that never happened and Okap charged $1.3m for.
Okap and Pete. Having there assets frozen. May well mean all Okap corporately fees with never be paid!
ASIC sought interim orders pending the outcome of its investigation, with the aim of preserving the interests of investors. Mr Landau will have an opportunity to present his views on the matter to the Federal Court in the New Year.
The orders were originally made by the Court in Mr Landau's absence on 8 December 2015, followed by the making of further orders with Mr Landau's consent on 22 December 2015.
I can not remember the poster who gave money to this CR and had to wait over a year to get this money back. Justice looks to be at hand!
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