Funny.I discussed this possibility just yesterday with a friend...

Funny.

I discussed this possibility just yesterday with a friend of mine who is a barrister exactly in this area, conveniently from Brisbane too. We didn't go into any deeper details, just sort of touching base on how to go about it and how the process works. He mentioned that the cost figure is around $300k mark. Quite high for an individual but reasonable if it's split between multiple shareholders. Obviously, it is the management insurance money we'd be after as the company will lose all assets to creditors first.
He recommended to go with some larger law company with bigger guns but he'd be happy to discuss further and to give me some recommendations if shareholders decide to go with the suit.
As I said before, I would go into this process only once the company is belly up, so not quite yet. But it is beneficial to have some preps done for a class action. So, yes, I'd be in once it's dusted depending on costs per capita/shareholding. Hopefully, it won't have to be that way.

GLTAH,

MiB