I have only just started looking, and am chasing any points of...

I have only just started looking, and am chasing any points of view out there as to what the chances are of a TMR shareholder filing as a creditor. From what I gather the Sons of Gwalia shareholders did it.

"In three separate judgments in Sons of Gwalia, Justices Finkelstein, Gyles and Jacobson JJ have now ruled that if a shareholder purchases shares and relies on misleading information provided by the company and can prove that loss has been suffered as a result of reliance on that misrepresentation, that the shareholder will in effect be a creditor for the purposes of assessing the shareholder’s ability to prove for damages in a liquidation (or a similar situation such as an administration)."

Link http://www.companydirectors.com.au/Media/Company+Director/2006/April/early+warner+-+when+shareholders+become+creditors.htm


Thanks in advance to anyone with infromation, and I will make some phone calls to see where a shareholder stands legally.