Yes, there’s a lot of people in your situation. The collective...

Yes, there’s a lot of people in your situation. The collective opinion is that a broker short sold IHL on the last day of ASX trading but they did not own the stock, sold naked. If your purchase hasn’t settled then it’s highly probable that you bought shares from this broker.

That broker needs to buy back stock on NASDAQ in order to settle the short position and settle with the buyers. The settlement is going to be messy so call your broker asap would be my suggestion.