Go and have a read of the law relating to constructive trusts before you throw the old lotto ticket arguement up.
Using your position in one company to gain advantage for self and another related company opens up the damages claim to include the constructive trust area of law as a form of compensation.
If the funds taken were a loan then it will be documented and the case would never have got this far.
If the funds were taken in a manner designed to deceive then Grimaldi and Barnes potentially have led MMX into a whole world of pain.
You have to ask if the current board MMX really know what these guys got up to. Do they take their word on it. Given that ASIC are chasing the co-defendents and rumour has it now the ATO you would be nervous believing anything they tell you.
Anyway a lot more information will start to emerge soon. By easter the case will have ended. Then it could be months before the judge hands down a decision. By then August will be looming and the Koh and Evans matter will be heading to court.
CHM Price at posting:
7.2¢ Sentiment: Hold Disclosure: Held
