A Limited and Temporary Receiver? Make up a title to make it sound like well its not a serious problem, just a temporary little setback for the mighty FAS. As far as I know there is no such thing under Australian law. A temporary receiver is a US concept. In Australia a Receiver not a temporary receiver or a sort of receiver, he/ she is a receiver in their to protect the interests of the secured creditor be that a bank or in this case another secured creditor.
How this company can in any way be considered to be solvent is a complete mystery. As usual ASIC completely missing in action.
FAS Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
