LJD said: " I can't see the APG management keen to go into...

LJD said: " I can't see the APG management keen to go into liquidation because one of the role's of the liquidator is to inquire into the failure of the company - and possible offences by people involved with the company - and to report to ASIC."

I disagree !!!
If APG cannot continue trading, and goes into liquidation - it does not necessarily follow that the liquidator will report management offences to ASIC.
Under some circumstances it may not be expedient for the liquidator to conduct an any serious investigation into management malfeasance.


The Auditor (with its limited access to what is actually happening within the company) is concerned about APG's ability to continue trading !!!!.
On page 38 of the 2021 APG Annual report, the Auditor had this to say about the chances of company liquidation. I quote:
"Going Concern
Following operating losses and cash flow deficits, there is a heightened degree of judgement as to the Group’s ability to continue as a going concern through the assessment period. Accordingly, we considered the appropriateness of the going concern assumption, the question as to whether there is a material uncertainty and the adequacy of management’s disclosure to be a key risk."

The APG board (with full access to everything going on in the company) would know exactly the chances of APG going into liquidation.


I personally, don't know a lot about the legalities of the liquidation process.
I have however watched companies go into the liquidation process - and sometimes shareholder's expected outcomes do not match the actual outcomes.

In the liquidation process - the first person that MUST GET PAID is the LIQUIDATOR itself.
But, if there are insufficient company assets available for the Liquidator to be paid - then how likely is it the Liquidator will sufficiently motivated to spend time and effort, to pursue an investigation into possible management offences ????


Below is my personal opinion and not an accusation ( hopefully I wont be moderated)

If I was a company director and my company was headed into liquidation, and I wanted to avoid a proper investigation by the liquidator of management actions - I would make sure the were insufficient assets left within the company to fund any investigation by the liquidator.


Wilcox