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Court Update November 28th 2022 Medcan v CGB, page-198

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Aussie Eagle

2,134 Posts.

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24/04/23

12:08

Post #: 67427155
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Originally posted by Aussie Eagle: ↑

Here's an update.....there IS NO UPDATE...

It's been 3 months (23rd Jan) since the last court submission which was filed by CGB.
This was titled '2nd amended ststement of claim'

This time period in between court updates is now by far the most lenghtly of all which at this point begs a couple of questions
1. Are the Continuous Disclosure Regulations being met ?
2. Is the Court Schedule simply too busy ?
3. Would the Court be recognising Mr Feldman's availability periods, being on another continent for half the year ?

Sholom Feldman is absolutely no stranger to Court Proceedings and indeed when he was a Director and Company Secretary of AGRPL (Australian Gemstone Resources) - he was involved in a 'brief liquidation' of them back in May 2018.

This info is stated in a 2018 Prospectus (28/09/2018) under section 12.6 (Management of Companies in Administration) - which includes two other entities also.

However, specific to this particular complaint (for comparison) by Medcan for non-payment, his AGRPL were placed into that liquidation status for the following reason :-

"due to a creditor demand being filed in Court"

Dyor, it's all there in that (one of a multitude) prospectus' for us to see that he's not exactly the darling of the judicial system.

So with that little eye-opener in mind, and having multiple millions cash to hand (well, we'll see that figure in the next few days - as well as the interest earned amount) it beggars belief why they still haven't paid up, imo.
There's rarely smoke without a fire eh...

Expand

Well, well, well...speaking of Sholom's AGRPL..look what I found fyi

https://publishednotices.asic.gov.au/browsesearch-notices/notice-details/AUSTRALIAN-GEMSTONE-RESOURCES-PTY-LTD-121034811/c2cc34fc-0b4c-4495-9870-de70ae85b224

They escaped liquidation back in 2018, but the above notice shows that AGRPL were proposed to be derigestered from 7th Feb 2023 with 2mths notice which happens to be just 2 weeks ago.

It looks like the reason for it is due to their annual return being over six months late, though it's a bit confusing because that rule (601AB 1a) seems to have been repealed.
http://classic.austlii.edu.au/au/legis/cth/repealed_act/cl184/s601ab.html

Last edited by Aussie Eagle: 24/04/23

CGB Price at posting: 2.1¢ Sentiment: Hold Disclosure: Held
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Court Update November 28th 2022 Medcan v CGB, page-198

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