Australia's largest stock trading and investment forum Australia's #1 stock forum

AVZ

Click for more information

0.00%

78.0¢ avz minerals limited

I think you are assuming that what would happen in Australia...

First 232 Last

Share
Profile

Follow
eztrang

4,160 Posts.

296

04/08/24

21:02

Post #: 75065275
Share

Originally posted by Rattlerock: ↑

When the money was returned by Dathomir AVZ specifically requested to the court that the funds be placed into escrow.

When money is placed in escrow by a court order, it is held by a neutral third party (bank or an escrow company) until the dispute is resolved or until all parties agree on the distribution of the funds. No-one would have access to those funds without a court order, neither AVZ or their legal counsel.

This AVZ announcement refers to the company’s escrow account. A court or for 20 million wouldn't let the money be placed in an account that one party could access. That would totally defeat the purpose of having the money in escrow while the dispute is resolved.

The only way this makes sense is if the money taken from the company’s escrow account wasn’t connected to the funds returned from Dathomir. People assume it’s the same money, but the company never said that. It could just be their legal counsel was helping themselves or paying fake invoices out of the company’s operating accounts.

Expand

I think you are assuming that what would happen in Australia will also be true in one of the most corrupt countries on Earth.

AVZ Price at posting: 78.0¢ Sentiment: Hold Disclosure: Held
3 Upvote

0 Great analysis

Reply

Top Stories

GL1

Global Lithium latest hit by lithium downturn; shares fall -10% as Manna DFS paused

SDF

Steadfast Group sees $600M wiped off on resumed trades after Four Corners feature

FBR

FBR's robotic home construction tech passes first US early-stage structural compliance check

FRB

Firebird snaffles Environmental Permit for Jinshi plant

DUR

Duratec snags $76.5M in works from Woodside and Defence respectively - including spy network upgrade

There are more pages in this discussion • 44 more messages in this thread...

First 232 Last

Add AVZ (ASX) to my watchlist