Touch and go, IMO even if you factor in that the appointment would be lifted and the substantial amount held for staff entitlements could be returned to the coffers. It would still leave debts that are passed due.
Which raised further questions:
a) who works for no pay? or limited pay?
b) the amount can not be unpaid super for staff this would be illegal.
Thank UG, I was disturbed by the thought that KR was/may be evicted from his home.
Some have questioned circumstances that may cause a company director to be in a position whereby their home has been linked to substantial debts, it is possible to obtain a loan for unpaid wages for yourself as a director, regardless of the purpose of the loan. This of course would need to be secured by a substantial asset.
We really are no closer or further from the fact that the latest news from FAS is very positive and promising and Im sure we all wish to see the dream of "the new Horizon" come to fruition. I can not confirm anything has been seen in writing on this matter, no it would not be insider trading as the Iworld deal has been circulated.
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