great news to all aggrieved shareholders. At todays meeting with...

great news to all aggrieved shareholders.

At todays meeting with Solicitors Mony De Kerloy they have accepted the retainer to be engaged to commence legal claims and proceedings against various defendants for losses to MBN shareholders

The Solicitors & Class action Committee confirmed that:-
- the solicitors were of the view that there are several legal causes of action available & various directors duties appear to have been breached
- the defendants should initially be the directors McKeever, Millazzo Griffiths Bellanger & Newsted as covered by their officeholders liability insurance as is compulsory for ASX listed companies and other defendants are being examined
- the VA VR & their profesional indemnity insurers are potential defendants also as there was allegedly no insolvency when they were appointed but there is now
- they will issue a letter to all shareholders for the purpose of conducting the claims which shall be posted here in the next few days
- the class action group committee shall be Johnboy, Tomboy & R (who has asked he not be named) plus any others who wish to meet and join
- funds will be collected diorect to their audited solicitors trust account with an initial $1K each per claimant member who joins with funding to be sourced from a variety of sourced thereafter
- all proceeds shall be received to an audited solictors trust account and will entitle you to be a member of the class action
- the funds will be used solely for legal fees and disbursements & no other purpose avoiding any middleman collection system
- a list of emailed members of the class action from the email address of [email protected] will be collated & provided to them for a general mailout
- a list of all MBN shareholders from 2013 and current will be obtained from the Liquidator/ASX/Computershare will a mailout proposed to them fopr members to join
- the other large holders ought to join the claims as a unified group & they will contact them including Wellington & BCEE
- they wish to engage a Queens COunsel for an opinion to use to justify the claims
- they have prior experience in the Padbury Mining & Gunns cases
- the latest court cases strongly support shareholders rights & have widely expanded directors duties such that insurers have been settling many cases

I will soon post their letter on this thread confirming their engagement.
They have agreed to represent all willing shareholders of MBN1 & MBN2 & the funding will be by this manner pending further progress of the claims to court.

We will not surrender our legal rights as owners of this great large mine we built from nothing for nothing to manipulation on a scale I have never before seen in 25 years of practice. This paltry sum is well worth the money to pursue our rights as owners.

If you think you have been aggrieved I ask you to join.
We as shareholders stand united together.
Further details coming soon.

To all those who wish to join please register & email us to

[email protected]