Proposed Shareholder Class Action, page-2

If you feel you have the basis for a class action you need to talk to the Class Action lawyers and their litigation funders. They will assess the chance of success of the action and decide if they want to fund the action. They will pursue the action on a "no win no fee" basis but take a fair chunk of any proceeds.

For a class action you need to prove a company has engaged in

"misleading or deceptive conduct and/or breaches of the continuous disclosure regime on the share market."

Stating the obvious but you also need to have a party with funds that you can act against. If there is no money available to pay a class action then there is no basis for a class action.

Your best bet is to have a chat to one of the big law firms like Maurice Blackburn to see if they think you have a case.

One issue amongst others would be the default on the con. notes which allowed the administrators in. Did AJQ have the funds to pay the interest and, if they did, why was it not paid.