Whilst we all as shareholders must take full responsibility for investing in the company in the first instance and I am prepared to lose the lot in worst case. We should all not sit idly by and watch Gutnick family members or subsidiaries take this asset for a pittance. It would be a sheer travesty to see this asset in any Gutnick related hands going forward.
After the failed attempt back in 2016 for an unlawful takeover, it appears the Gutnick family remained hellbent to gain full control in what appears to be an extremely calculated attempt to secure this asset through issuing of convertible notes to Gutnick family companies (origin of funding from Merlin). Along with theft of shareholder funds through what appears at this stage to be 100% criminal calculated methods.
If the provisional liquidators confirm what we already know about the transfer of shareholder funds to the toxic web of Gutnick family companies all under the fake AXIS umbrella business arrangement. Then the Merlin directors who facilitated this must be punished to the full extent of the law. If that means the company can't recover the funds, then shareholders need to mount some kind of class action to go after the private companies assets and directors assets & these directors need to be prosecuted.
ASIC must have access through their channels to some pretty hardcore evidence to have taken this through the courts. So I can only hope there is enough dirt to finally trap these gutter rats.
In the ruthless business world, who are going to be in the most pain & or rewarded with the asset here? Innocent shareholders or the perpetrators? Where is the justice and what example are we setting for corporate governance going forward if what appears to be calculated criminal theft can possibly be rewarded.
I will loose all faith in corporations law & will never invest another cent into an ASX company if any Gutnick family member or company gets control of this asset.
