So far, it is a completed legal action documents for Shareholders to download as a weapon. If ERG do not pay back your asset, any one can send directors to jail by this.
[ERG Wrongdoing Public Trial Part 9] Even though NSW govt. officers made the T Card crisis within the finance crisis, ERG was still just at profitable turning around point with months positive cash flows, rather than in insolvency. Later on, that has be proved by VIX-ERG finance reports .
The facts are, Mr. Duncan Saville and his related entities, Ingot Capital Management P/L, Untilico Fund (UK public fund), spend their 85 millions loan, to get ERG all assets, which are at least $500 millions from 17000 shareholders who loss all. He may sale shareholders assets, eg. 95% completed Sydney project to new T-Card vender (maybe Cubic), that worth about $200 millions. He have sold USA business to Cubic at a secret price. Only these two assets already worth $300 millions, much more than $85m.
They should pay ERG shareholders at lease $550m assets /860m shares=$0.63 per share for true value of assets, plus damage on the business.
More wrongdoing behaviors and evidences will be added later.
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Evidences (we can copy and send to you, if its need)---A1.A2.B.C.D.E.F.G A1. 8/10/2008. A2. < Independent Experts Report> 17/9/2008.
B. 15/10/2007. C. < ERG and VIX News Issue History > 6/2007~25/5/2009. D. 17/11/2008. E. < ERG Monthly Report Summary > 31/5/2008~31/12/08 F. on 20/8/2009 and on 12/8/2009 G. < ERG and VIX News Issue History > 6/2007~8/9/2009 More will be added later
ERG Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
