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Minutes of first meeting of creditors, page-30

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turtleboy

5,317 Posts.

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20/05/23

22:15

Post #: 67881118
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Originally posted by 61289439 ↑

I asked that very question direct to David Halliday in a meeting, as to what the new BOD's plans would be. He said the first thing is to get a set of books that have been properly audited, because until then they don't know the state of each of the entities. The second is then assessing the individual entities to see which are actually profitable, which are not and the ones that are not, to see if they are possible to bring into profitability.
In the background to this they would do their own investigation of the fraud, while also seeing what has happened with the current investigations instigated by the old BOD. They would also be looking to then retrieve as much of the stolen money as possible and if it is proven there have been illegal actions by the old BOD or anyone else at IOU, they would take the to court.
Hopefully this post stays and does not get taken down as unsubstantiated information, but I sat across a board room table from him and the above is what he told me.

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Al good.

I think we get IOU out of VA first and take legal action against the lot of them.

Put them thru the Cleaners!!

IOU Price at posting: 4.1¢ Sentiment: Buy Disclosure: Held
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