"Surely parties in the know in this scenario are open to legal challenge"
It's a 'good money after bad' situation. If you're going to spend that sort of money, it would be more fun to take up your entitlements, retain your voting power, pool you votes, spill the board, make trade4profit chairman and Raks CEO, demand to see the paperwork ...
... and then call the cops.
Realistically though, the name and shame route is the way to go. If there is anything sus going on, let ASIC investigate. It's their job.
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CVI Price at posting:
1.1¢ Sentiment: None Disclosure: Not Held