Hopefully it will become interesting as time passes – even if it’s is too late for CMR. However - generally speaking - one can't expect to succeed if suing for incompetence or good business decisions that go bad. Negligence however is a rather different story.
With regard to CMR, it seems despite the passage of 2 years or so, more and more questions seem to arise concerning some of what transpired – the apparent relationship between the ASIC and FH or other insolvency practitioners is beyond belief..
I know many who lodged complaints with the ASIC were, like me, left shaking our heads wondering wtf. I recall one reply from the ASIC shared with me where they went to lengths to explain that they "are not obliged to investigate every complaint lodged with them".
Following the M. West article one must be left to wonder was it an employee from FH who sent that email?
Sadly, from where I sit, the actions of some with regard to CMR have been nothing short of morally bankrupt - but the lack of interest of the supposed overseer – the bloody watchdog - is to the level where I just don't have the words to describe. Sadly however - the article by M West offers something of a reasonable explanation – even if that explanation does nothing more than show ASIC is as morally bankrupt as those they are charged to watch over.
Time to get rid of ASIC and employ a few bouncers. Thinking about that – who did Chris Murphy turn to to recover his money in Opes Prime – if I recall right it wasn’t the ASCI or lawyers.
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Held
