I reckon the reason why LWP moved from Hopgood Ganim were one or both of:
1. cost of Lynch Andrews was cheaper than HG,
and/or
2. HG may have been perceived to be conflicted, because one of the issues s/h and directors may have/had, is the actions of HG re lodging of ASIC docs, execution of docs etc. So there may have been issues regarding potential possibility and liability of HG in the event that LWP suffers losses as a result of actions of HG. That is just a theory and am not implying any wrong doing by anyone - just speculating. Often lawyers remove themselves to ensure there is no conflict of interests in future, or any perception of conflict?
It sounds like self-representation by LWP is an act of desperation.
We don't know the circumstances of the cessation of Lynch Andrews.
Did LWP pay its bills on time?
Does LWP have the funds to continue the action using LA?
Just in what danger is LWP placed by releasing LA, and self-representing?
How much confidence can s/h have in LWP representing itself, when LWP has so consistently breached the ASX Listing Rules??? And questionable actions wrt Corps Act? How can LWP argue matters of a legal nature when it has difficulty following the rules/laws itself?
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what was the timing of those photos of the ice-cream machines?
how does that relate to the timing of the inspection of the LWP representative who went to Thailand?
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given the dire situation of LWP funds, and possible costs orders and maybe damages, and legal expenses to date, what is the current funds situation, and is LWP still Solvent?
At what point is the happenings in this Courtroom matter, a matter of Material Nature, which must be disclosed to the market??
As at end May, LWP had $864,000.
It will spend at least $350,000 perhaps just covering regular expenses.
so at end of June just gone, LWP may only have around $500k left, plus maybe some equities?
We know it also has US$17,000 p/m payments to Hallmark -so about $70,000 p/qtr there.
we can assume LWP still has some equity investments, but whats left and what value and what liquidity?
(they simply cannot count on any funds from ATO or Lanstead)
So given very real possibility of a substantial costs order and maybe damages, is LWP still solvent??
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