Thanks for posting the article. Well, at over $700,000 for an administration (was that for one year only? I cant recall) this is a gravy train Ferrier Hodgson must never want to end! This is typical of lawfirms, accounting firms and insolvency. CMR must be one of their favourite clients. To quote The people vs Larry Flynt, actor Woody Harrelson tells his lawyer he's a great client because he's rich, he's funny and he's always in trouble. The only difference here is that NONE of this sorry mess has ever been funny and the $$$s are just fading away. I used to think CMR was a fraud on the minority, now I just think it's FRAUD period. If this business weren't so complicated and messy, I would go to the police but I know that corporate life allows people to get away with things that normal life simply does not allow. There has been no transparency at all here. Good on Michael West for his great article and shame on ASIC for doing nothing to protect shareholders, yet again! Everyone is getting a slice of this pie except that shareholders.
CMR Price at posting:
15.0¢ Sentiment: None Disclosure: Held
