I am no corporate lawyer; however I wonder what if any recourse is open to share holders in the court to any director/CEO who, after illegality is proven, can sue for damages?
I make no allegation or claim here regarding the situation with CVI, its directors or managers; however it is food for thought.
I think the longest running case in Australian legal history is coming to a close here in Perth - The Crown vs Bond Corp is it, in regard to Bell Resources so it could be something of a test case.
I know that usually when a company goes belly up, the shareholders are a long last to receive any compensation if any, however in the case of a CEO or Director being found guilty of some impropriety, there could just be some recourse available to share holders.
Any thoughts would be appreciated but be careful not to defame anybody please. _______________________________________________________
THE ABOVE IS NOT FINANCIAL ADVICE AND NOT DESIGNED TO BAIT, TROLL, FLAME, CREATE AN ARGUMENT OR OTHERWISE CAUSE OFFENCE TO ANY PERSON WHO SO-EVER IS ENTITLED TO DISAGREE WITH MY OPINION AS STATED IN THE ABOVE TEXT
CVI Price at posting:
1.8¢ Sentiment: None Disclosure: Not Held
