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0.6¢ merlin diamonds limited

Letter from the Liquidator, page-58

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alanbrazell@

168 Posts.

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13/07/21

17:15

Post #: 54473972
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Originally posted by Cridz: ↑

Sorry it's only 7.5 mill, 1mill went to the NT Govt.
A lot depends on liquidator costs (usually a lot) and how much secured creditors or ATO are owed as they get 1st dibs, also they legitimacy of the creditors may be questioned depending on links to management.
The most likely way of seeing a return is if the liquidators can directly show the directors were negligent or worse, hopefully they have directors insurance so the liquidators and insurers would come up with an arrangement either in court or a deal. If insurance doesn't cover it they would need to recover it from directors and we know what JG does next!

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I suppose the liquidators will now dick a round charging extortionate fees until any upside from the sale has been absorbed & send us a letter to inform us that sadly there is nothing left for those of us who were robbed by the directors, there families & finally those charged with recovering funds. Great system IMO.

MED Price at posting: 0.6¢ Sentiment: None Disclosure: Held
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