General discussion, page-20371

at the rate that the directors are shifing money out of this, the question will not be about the stock price but about whether the company will be in chapter 11 or not?

now some of you might be thinking that’ chapter 11 is a clever strategy to escape clawback, prosecution and a civil claim?

No doubt, TV will be using this explanation to hang in there?

Not quite, sunshine.

if you haven’t already realised the evidence collection has been happening for over 6 months -

there is an army of plaintiffs
there is a lead plaintiff who has put his hand up
a white shoe law firm working on no win, no fee
its a public listed company where every document is retained


apparently, one of the lawyers was quoted as saying this is “one of the most unsubtle cases of securities fraud” he has ever seen.

the litigation lawyers operate on no win no fee and retain 25-30% of the entire claim, so they are incentivised to take as much from the company and also from the people who perpetuated the fraud (should one be found).

now the claim here could be enormous:

so let’s assume the non-market salaries and stock grants are already clawed back. (That’s the easy part)

then comes the personal assets of each of the people involved - the directors, the CFO(s) and other folk involved.

also - there is this interesting concept called fraudulent conveyancing - some people think transferring assets to a wife or relative’s name puts it out of creditors hands -

think again - US and Australian law have fraudulent conveyancing and clawback for several years after transfer of the asset

If anyone was involved in any part of this and the securities fraud was proven, I imagine you would be going to some extremes to hide your assets?

Not to worry, forensic accountants have been digesting the accounts of IHL and IXHL for several months and there are a number of discrepancies which do not look good for the defendants.

trying to pull this stunt on a private company would have been hard

trying to pull this stunt on a public company in plain daylight is just delusional

now I hear that PW has changed his number and has vanished into thin air?

I also hear that PL is denying any connection with Incannex?

I believe there is an investigative journalist actively taking an interest in this too

wow, just wow