Pavy, again thank you for sharing your insights: "....... I not only wish that I had the answers to those two questions but answers to another dozen or two of my own....."
All will become clear in time starting with the hearing on 29 May 2015, at the Supreme Court Victoria.
As it is inappropriate to comment publicly on cases sub judice, I will just repeat ASIC's press release dated Tuesday 28 April 2015:
15-086R ASIC applies to wind up Planet Platinum Ltd ASIC has applied to the Supreme Court of Victoria to wind up publicly-listed company, Planet Platinum Ltd (ACN 101 217 252) on just and equitable grounds.
In particular, ASIC: * alleges that the company has been involved in multiple contraventions of corporations legislation and is not complying with its obligations under that legislation; * is concerned that the company is not being properly managed.
ASIC has applied for Mr John Lindholm, of Ferrier Hodgson, Melbourne, to be appointed as liquidator and, pending hearing of the winding up application, as provisional liquidator of the company, to provide a report to the court and to ASIC on the affairs of the company.
The matter has been listed for hearing in the Supreme Court of Victoria in Melbourne on 29 May 2015. ASIC's investigation into the affairs of Planet Platinum Limited is continuing.
PPN Price at posting:
20.0¢ Sentiment: None Disclosure: Held
